New Board members appointed at Nest

NEST can confirm that following an open competition four new members have been appointed to its Board by the Secretary of State for Work and Pensions. 

The new Board members are Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen, three of whom have a background outside the pensions industry: 

• Clive Elphick is an independent director of National Grid, and was formerly a board member at the Environment Agency
• Martin Turner has 37 years’ experience working in Financial Services across Barclays and Lloyds Bank.
• Mutaz Qubbaj is the chief executive officer of Squirrel, a fintech company focusing on empowering people across the UK to take control of their finances.
• Chris Hitchen is chair of the Border to Coast Pensions Partnership, investing money for twelve LGPS pension funds with assets totalling £43 billion.

Their appointments began on 1 June.

NEST can also confirm the reappointment of both Graham Berville and Ian Armfield to the Board - both joined NEST as Board members in 2014 and have been reappointed for terms of one and two years respectively. 

Following the DWP’s Tailored review back in March, NEST’s chief executive officer Helen Dean has also been appointed to the Board as NEST moves to a unitary Board structure. 

Commenting on the new Board composition, Otto Thoresen, Chair of NEST, said:

“The strength of any Board relies on the range of experience and skills it can draw upon. That’s why NEST has looked outside the pension industry and appointed individuals from other sectors, who can bring fresh ideas and new perspectives. 

“I’d also like to welcome Helen to the Board. Strong governance is an essential element in ensuring good outcomes for our members and the employers who use us.”

Notes to editors

• NEST Corporation is the Trustee that runs the NEST scheme and a Public Corporation. The Board is made up of a chair and up to 14 Board members.
• The chair and Board members set the strategic direction and objectives for NEST. They also have a number of legal duties, including making sure that the scheme is run in the interests of its members. Board appointments last for up to five years.
• In the tailored review DWP recommended that the NEST Corporation Board should become a unitary board in line with general good governance practice, the UK Corporate Governance Code specifically.
• The biographies for the new trustees can be found through the links below:

               Clive Elphick
               Martin Turner
               Mutaz Qubbaj
               Chris Hitchen