Last Tuesday, BT Pension Scheme Management Ltd., announced the appointment of Morten Nilsson, the founder of Now Pensions, as the new chief executive officer of the company.
BT Pension Scheme Management (BTPS) said that Nilsson be will be taking up the position immediately. He will be reporting to Paul Spencer, the chairman of the fund trustee and chairman of the BTPS Management board.
Nilsson will be taking over the place of Eileen Haughey. Last January, the firm said that Haughey would step down from the position after the conclusion of the 2017 actuarial valuation. A specific date was not set and could not be learned.
The pension scheme of the telecoms giant is considered as one of the largest defined benefit (DB) schemes in the United Kingdom. Nilsson is set to lead all the decisions that involve asset and liability management, operations and other member services for the scheme, which boasts of approximately £50 billion assets.
In 2001, Nilsson first joined the pensions and investment industry. He spent more than 10 years working for ATP, a £90 billion Danish pension scheme, in a number of positions.
In 2010, He established Now Pensions, a £600 million multiemployer defined contribution plan, and built it into one of the largest occupational defined contribution providers in the UK market.
Troy Clutterbuck eventually replaced him on an interim basis in August 2017 and Clutterbuck was appointed to the role permanently in 2018.
Spencer, the BTPS chair, stated: “The trustee is delighted to welcome Morten to the team and we look forward to working with him to further strengthen the activities of the Trustee of the BT Pension Scheme, and support our 300,000 members.”
Nilsson said that he considers it as a “privilege” to join the pension scheme.
He continued: “It is an ambitious and dynamic organisation with a history of successfully using the scale of the fund to find new innovative and forward-looking ways to protect its members’ interests.”