Nest has appointed Ian Cornelius to be its interim CEO, following the departure of Helen Dean at the end of April this year.
Cornelius, who will start in the role on May 1, joins from Skipton Building Society, where he was interim group CEO. Prior to this he was the building society’s commercial and strategy director for a decade. The appointment is expected to be for a period of 12 months while a permanent CEO is recruited.
Dean announced she was stepping back from this CEO role last year. Nest currently has around £39bn assets under management which it runs for its 13m members — making it one of the UK’s largest pension schemes.
Nest chair Brendan McCafferty says: “[Cornelius’s] expertise and insight will be valuable as we build on our achievements and accelerate our purpose-driven plans that put our low to middle income members at the heart of everything we do.”
He thanked Helen Dean for the leading role she has played over decades helping found Nest and then leading it as CEO for eight years. “Her tireless focus on improving financial outcomes for all — including perhaps the most underserved in society — will transform the financial resilience and retirement of millions of citizens across the United Kingdom. She leaves an incredible and long-lasting legacy.”
Commenting on the appointment, Cornelius said: “I’m excited to be joining Nest as it continues to develop. The organisation has a unique and purposeful place in the sector and I’m looking forward to supporting the next phase of its future.”
