Scope
Description
Procurement to award up to 3 call off contracts for permanent recruitment services for the National Wealth Funds Investment banking roles as required. Each contract will be for an initial 3 year period, with an optional 12 month extension, with a maximum value of £750,000. There will be no exclusivity guarantee under the contracts or minimum commitment of spend. As recruitment of roles are required, the Buyer's Head of Talent Acquisition will engage with one of the contracted suppliers to confirm the details of the recruitment, For more information about this opportunity, to access the ITT document and to respond, please visit the NWF's eSourcing portal below and search for the opportunity "C1123 - Permanent Recruitment Services for Investment Banking Roles" https://atamis-3929.my.site.com/s/Welcome
Total value (estimated)
- £2,100,000 excluding VAT
- £2,520,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 12 January 2026 to 11 January 2029
- Possible extension to 11 January 2030
- 4 years
Description of possible extension:
Each contract will have an optional 12 month extension
Main procurement category
Services
CPV classifications
- 79600000 - Recruitment services
Contract locations
- UK - United Kingdom
Participation
Legal and financial capacity conditions of participation
Suppliers (or their guarantors) must hold a Dun & Bradstreet financial risk score of at least 51. Suppliers must have, or commit to obtaining prior to award, the levels of insurance cover indicated below: a. Employer's (Compulsory) Liability Insurance* = £5,000,000 b. Public Liability Insurance = £5,000,000 c. Professional Indemnity Insurance = £1,000,000 Suppliers must have in place, or commit to having in place by the award of the contract, the human and technical resources to perform the contract to ensure compliance with the UK General Data Protection Regulation and to ensure the protection of the rights of data subjects.
Particular suitability
Small and medium-sized enterprises (SME)
Submission
Enquiry deadline
15 October 2025, 12:00pm
Tender submission deadline
31 October 2025, 12:00pm
Submission address and any special instructions
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
22 December 2025
Award criteria
| Name | Type | Weighting |
|---|---|---|
| Geographical Knowledge of Recruitment and Proximity | Quality | 22.50% |
| Search expertise & experience | Quality | 22.50% |
| Commercia | Price | 20.00% |
| Equality, Diversity and Inclusion | Quality | 20.00% |
| Contract Management | Quality | 5.00% |
| Social Value - 1 | Quality | 5.00% |
| Social Value - 2 | Quality | 5.00% |
Other information
Payment terms
All Invoices must be submitted to the NWFs Accounts Payable team and contain a valid PO number. All undisputed invoices will be paid within 30 days.
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Open procedure
Contracting authority
National Wealth Fund Limited
- Public Procurement Organisation Number: PZLH-3537-RPCP
2 Whitehall Quay, Leeds, LS1 4HR
Leeds
LS1 4HR
United Kingdom
Contact name: Freddie Hudson-Evans
Region: UKE42 - Leeds
Organisation type: Public authority - central government