Founding CEO is replaced by chief financial officer

Morten Nilsson, NOW: Pensions

Morten Nilsson, NOW: Pensions

Morten Nilsson has left the role of CEO of NOW: Pensions.  He has been replaced in the interim by former chief financial officer Troy Clutterbuck. 

In a statement, the scheme said: ”As the first phase of auto enrolment approaches its conclusion, the Board has decided that now is the right time to make this change in executive management.”  

Clutterbuck joined the master trust in 2016, from Jardine Lloyd Thomson. 

Nigel Waterson, chair of trustees for NOW:Pensions said that Nilsson had left an “indelible legacy in the UK pensions sector”. He added that the former CEO had made a ”huge contribution not only to the success of NOW: Pensions, but to the whole automatic enrolment project”. 

The news comes a month after NOW:Pensions had to withdraw from the Pension Regulator’s list of approved master trusts, as a result of administrative problems including delays in processing member contributions and in communicating with members.