The firm was recognised by the FT for a range of work including the development of ‘Blended Products’, a solution designed by the firm to enable its insurance clients to offer customers a compelling alternative to annuities. This followed shock government reforms to the retirement regime which ended the compulsory purchase of annuities and had a dramatic impact on a number of insurance businesses. Pinsent Masons partner Simon Laight, who led the initiative, was singled out for commendation by the judges.
In addition the firm was:
- Ranked ‘Standout’ for Innovation in Technology and Data Analytics for the development of Term Frame, an intelligent project management system
- Highly Commended for Innovation in HR, as a result of Project Sky, the firm’s programme to address gender diversity within the firm’s partnership and senior leadership
- Highly Commended for Innovation in Culture, Brand and Strategy, for Atlas, the firm’s market-leading approach to developing long term and sustainable client relationships
- Highly Commended for Innovation in Speed and Process, for the firm’s landmark work on the development of collective voluntary redress schemes in respect of mass torts
- Commended for Innovation in Restructuring and Reorganisation, for the first ever sale of a pensions debt against the backdrop of contentious insolvency proceedings
- Commended for Innovation in Technology and Data Analytics, for the development of Traceable Causes, which helps mitigate risk in the infrastructure sector
The news comes after the firm was also counted among the ten most innovative international law firms in Asia Pacific by the Financial Times earlier this year.
The FT Innovative Lawyers reports series is independently and rigorously researched and includes a significant component of client feedback by RSG Consulting.
Richard Foley, Senior Partner of Pinsent Masons, says:
“To be ranked among the five most innovative law firms in Europe for the second year in a row is a real achievement. Our vision is to be recognised as an international market leader in the global sectors in which we operate, differentiated by our skillset excellence and approach to innovation. The FT research is a positive validation of that approach particularly because of the significant level of client input. The positive client feedback across a wide range of disciplines demonstrates that innovation is in Pinsent Masons’ DNA.”
Simon Laight, a Partner and financial services specialist at Pinsent Masons, says:
“We have great clients and we have great people. True innovation happens when the two come together. Collaboration is the key to successful innovation and I am grateful to those clients with whom we worked for embracing the concept of Blended Products. We enjoyed collaborating with them on the birth of a new financial product.”
More information about Pinsent Masons’ suite of innovation can be found at www.innovative.legal .