2.14 One of the successes of the Treasury building deal was the appointment of suitably qualified and experienced advisers to complement the strong project teams of the Treasury and Exchequer Partnership. A survey of the finance markets, conducted as part of our study, suggested that one of the reasons why the competition was seen as a success was because of the high quality advice, financial, legal, technical and insurance, that all the parties received. This level of support, combined with the proactive and strong management of the project teams, resulted in the Treasury and Exchequer Partnership signing a project agreement that was considered, and was proven, to be commercially acceptable. The advisers also evaluated the bids accurately and quickly.
2.15 One of the factors that enabled the financial advisers (Société Générale and Dresdner Kleinwort Benson) to provide good advice was that both have considerable experience in the finance markets and in raising finance. This direct experience meant they understood what the markets would find acceptable and would therefore finance. When appointing financial advisers, a department will have to consider whether an adviser that did not have this experience would perform the role as well as an adviser that does.