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NS&I chief ends decade in post for regulatory work

NS&I chief ends decade in post for regulatory work

National Savings & Investments’ chief executive Jane Platt will stand down this summer after a decade at the helm.

A non-executive board and external risk and strategy committee member at the Financial Conduct Authority since April 2013, Ms Platt said she will now be focusing on this role with the regulator.

She has previously held senior positions with BZW, Barclays, and the Royal London Group, after starting out as an investment manager.

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Harriett Baldwin, economic secretary to the Treasury, said the former chief executive has “driven the modernisation” of NS&I.

Ms Platt said: “I’m particularly proud we have been able to become increasingly self-funding by providing operational services to a growing number of other government departments.”

NS&I has played a key part in the UK’s fiscal strategy, Ms Platt said, with the amount savers have invested in their pots growing to £134bn at the end of last year, from £73bn in 2006.

According to the company it has plans to continue to invest in its “digital transformation” and aims to deliver £400m worth of savings up to 2021.

NS&I finally split from the Post Office in 2011 as it looked to make the service more streamlined for customers.

However, savers were dealt a blow last month after the body announced it would be cutting interest rates on its range of savings products.

An open recruitment competition managed by the organisation and the Treasury will take place “shortly” to replace her, an NS&I spokesman told FTAdviser.

katherine.denham@ft.com