Gail’s Artisan Bakery recently opened a store in Summertown, Oxford, its’ first out-of-London venture. Gail’s opened its first outlet in 2005, in Hampstead – it now has 26 stores in London. The new Summertown store will be the company’s first bakery outside the capital.Tom Molnar, Gail’s founder, said: “We are passionate about making world-class bread, and helping to make it more available. We had the opportunity to open a bakery in Summertown and we are excited to become part of the community.”Open from 7am, the Summertown bakery will offer a selection of Gail’s most popular breads, alongside pastries, cakes, sandwiches and salads, which will be freshly made each day.The window displays are made up with loaves including French dark sourdough, mixed olive sourdough, quinoa sourdough and honey & almond sourdough.The bakery specialises in morning pastries, yogurt pots and toast. Lunch includes seasonal soups, sandwiches and salads, as well as quiches and sausage rolls.A hot brunch menu is served until 3pm, offering dishes including eggs, French toast and shakshuka. Cakes are served all day, and afternoon tea bakes include brioches and delicate cakes. In January, Gail’s produced a special biscuit to celebrate Orchid Festival at the Royal Botanic Gardens, Kew.
The funds said the combined contract, negotiated through the framework, would save £1.25m over the contract period, and £250,000 in procurement costs.Each scheme, however, retains a separate contract with HSBC defined to the particular requirements.Jill Davy, head of financial services at London Borough of Hackney council, said: “Working together has delivered a great value for money outcome for each of our funds, but wider benefits for each of us also as we shared our ideas and experience to help identify the right solution for each of us.”The framework, which was originally set up in 2012, allows local government funds to reduce the procurement process, still comply with European legislation, but leverage better pricing through collaboration, and the use of a price ceiling.It covers actuarial, benefit and investment consultancy services, global custody, and from the end of this year, legal services.This is real collaboration in action, already delivering significant savings and benefits for the LGPS. The achieved and potential savings are very significant,” said Nicola Mark, head of Norfolk Pension Fund and chair of the framework.Six custodians were appointed to the framework for services in November 2013, and alongside HSBC are BNP Paribas, BNY Mellon, JP Morgan, Northern Trust and State Street.The original framework was jointly created by seven local authority funds , but remains open to all LGPS funds. Three local government funds have made a joint custodian appointment using the newly established National LGPS Framework agreement, saving around £1.5m (€1.8m) through collaboration.The framework, which was set up by local government funds in order help reduce procurement costs, and negotiate better deal for funds, went live for custodian services at the start of 2014.Suffolk Pension Fund and London’s Hackney Pension Fund joined Norfolk, which led the creation of framework agreements for the LGPS in 2012.Jointly, the funds appointed HSBC Securities to act as global custodian for the combined £5.2bn in assets.