Tim Jones, chief executive of the UK’s National Employment Savings Trust (NEST), has quit his role after seven years with the organisation and its predecessor.
Jones will leave NEST at the end of this year to return to the digital payments sector, an area in which he worked for several years prior to joining the Personal Accounts Delivery Authority (PADA) in 2007.
As CEO of PADA, which became NEST in 2010, Jones oversaw the creation of the UK’s first national retirement savings fund, designed to aid the introduction of auto-enrolment.
A spokesperson for NEST said the organisation had begun a recruitment process for a new chief executive. Jones will remain in his role to oversee the transition until the end of 2015.
“As the first CEO of NEST Tim has done a fantastic job,” said Otto Thoresen, chairman of NEST. “He has successfully taken NEST from the early stages of development through to the first key stages of delivery and established it as an integral part of auto-enrolment in the process.”
Jones said he was stepping down in order to “pursue a longstanding ambition to develop a global digital money product”, which will be launched next year.
“I’m very proud to have played a part in establishing NEST, and helping millions more people to save for their retirement,” he added.
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