The National Wealth Fund Limited (NWF) is seeking to award up to three call-off contracts for permanent recruitment services to fill Investment Banking roles. Each contract will run for an initial three-year period from 12 January 2026 to 11 January 2029, with an optional twelve-month extension to 11 January 2030. The total estimated value of these contracts is £2.1 million excluding VAT (£2.52 million including VAT), with no exclusivity guarantee or minimum spend commitment. Each recruitment assignment will be confirmed individually by NWF’s Head of Talent Acquisition with the relevant contracted supplier.
Suppliers interested in participating must demonstrate legal and financial capacity, including a Dun & Bradstreet financial risk score of at least 51 and the ability to hold, or commit to obtaining prior to award, the required insurance levels: Employer’s Liability (£5,000,000), Public Liability (£5,000,000), and Professional Indemnity (£1,000,000). Suppliers must also have the human and technical resources to comply with the UK General Data Protection Regulation (GDPR) and ensure the protection of candidate data. Small and medium-sized enterprises (SMEs) are encouraged to apply.
The evaluation of tenders will consider both quality and price. Quality accounts for 80% of the assessment and includes geographical knowledge and proximity (22.5%), search expertise and experience (22.5%), equality, diversity, and inclusion policies (20%), contract management (5%), and social value (10% across two components). Price contributes 20% to the overall evaluation. The submission must be made electronically via the NWF eSourcing portal in English before 31 October 2025 at 12:00pm, with the award decision expected by 22 December 2025. All invoices submitted must reference a valid purchase order and will be paid within 30 days for undisputed invoices. The procurement will follow an open procedure and a conflicts assessment has been prepared.
