Mark Jennings

Mark leads PwC’s Pensions Covenant & Restructuring team in the UK. This is the largest practice of its kind and supports both trustee and corporate clients on a wide range of services.

Whilst employer covenant remains core to Mark’s skill set and experience, he has a wealth experience in corporate restructuring, M&A transactions, insolvency and banking. But having built an extensive portfolio of clients over the last 20 years as a covenant adviser he now provides support in a number of areas, including:

• Supporting trustee boards as they navigate DB Funding Code requirements to ensure they have the best strategy and journey plan to protect and secure members benefits in the longer term;
• Advising trustees, corporates and shareholders in a transactional or restructuring situation to deliver a best outcome for all stakeholders – a long standing and strong working relationship with TPR and the PPF is essential to achieving these outcomes;
• Supporting a range of stakeholders in assessing and implementing alternative “Endgame” solutions: Mark’s recent work includes advising on two recent Clara transactions and also advising on a groundbreaking “Run-on” and surplus sharing framework arrangement; and
• A wide range of other services and projects; this includes acting as an employer covenant Expert Witness in a recent significant litigation case.

Mark lives in Leeds and has his “home office” there, but splits his time between London and Regions, and spends time in each of the regional offices to support the regional covenant teams in Scotland, Manchester and Birmingham as well as his hometown.

Mark’s interests include his football team (passionate Leeds United season ticket holder!), walking (ideally with his Hungarian Vizsler) and going to gigs (not as often nowadays as he’d like...).