Pensions  

Tim Jones to stand down as Nest chief executive

Tim Jones to stand down as Nest chief executive

Tim Jones, chief executive of the National Employment Savings Trust, will leave the organisation at the end of this year, a spokesman has confirmed.

A Nest spokesman confirmed that the organisation had begun the recruitment process for a new chief executive following Mr Jones’ decision to stand down at the end of 2015.

Mr Jones said: “After almost eight years as chief executive of PADA and then Nest, the time is right for me to pursue a longstanding ambition to develop a global digital money product.

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“I am very proud to have played a part in establishing Nest, and helping millions more people to save for their retirement. I will of course continue to monitor Nest’s progress as the story develops.”

The organisation’s chairman Otto Thorensen said: “As the first CEO of Nest, Tim has done a fantastic job.

“He has successfully taken Nest from the early stages of development through to the first key stages of delivery and established Nest as an integral part of auto enrolment in the process.”

He added: “Tim’s longstanding interest in digital money is well known and we all wish him every success with his new project. In the meantime, I am grateful to Tim for giving us advance notice of his intentions and allowing for an orderly transition.”