Jonathan Marks has a corporate and corporate finance practice and has been involved in demutualisations, fund-raisings, joint ventures and private and public acquisitions. He has a focus on work involving financial institutions particularly insurers and asset managers. Jonathan joined Slaughter and May in 1987, qualified in 1989 and has been a Partner since 1997.
His financial services related work includes advising:
– Standard Life on:
- its merger with Aberdeen Asset Management
- the acquisition of Ignis Asset Management for £390 million
- its disposal of its Canadian business for CAN$4 billion and the related £1.75bn return of value to shareholders
- its sale of Standard Life Healthcare to a subsidiary of South African listed insurer Discovery
- its demutualisation and flotation on the London Stock Exchange
– Philips on its £2.4 billion bulk annuity transaction with Pension Insurance Corporation
– Akzo-Nobel and ICI on the de-risking of around £3.6 billion of liabilities of the ICI Pension Fund involving transactions with Legal & General and Prudential
– esure in relation to its IPO and joint venture with Gocompare.com
– Aviva on:
- its c. £5 billion de-risking of the Aviva Staff Pension Scheme and c. £900 million RAC (2003) Pension Scheme by way of longevity swap transactions
- three separate placings of its shareholding in the listed Dutch insurer Delta Lloyd N.V. for approximately £1 billion in total
- acquisition of RBS Life and the entry into a new distribution arrangements with the same party
- the sale of its Indian and Sri Lankan offshoring operations to WNS and the outsourcing of the administration and reinsurance by Norwich Union Life of legacy life and pension policies to Swiss Re
– Cox Insurance on its acquisition as part of a public-to-private transaction and its earlier restructuring to limit the group's exposure to losses arising from the events of 11 September 2001
– Norwich Union on its merger with CGU to form CGNU (now Aviva) having previously advised on Norwich Union's flotation.
Jonathan is the author of the chapter on Corporate Governance in 'A Practitioner's Guide to Directors' Duties and Responsibilities', Third, Fourth and Fifth Editions."