Morten Nilsson has been replaced as CEO of Now: Pensions by Troy Clutterbuck, who is taking on the role on an interim basis.
A statement from the provider says the board says a change is needed now to ‘help ensure that Now: Pensions is well positioned to capitalise on its achievements to date and cement its position’.
Clutterbuck has been with Now: Pensions since August 2016 joining as CFO from Jardine Lloyd Thompson Group where, during a 15 year career with the firm, he held a number of key roles including CFO UK employee benefits and commercial director, Latin America and Canada.
Nilsson founded Now: Pensions in the UK in 2011. It now has over 1.3 million members and more than 26,000 participating employers. However, the provider had has withdrawn from the master trust assurance list of providers for auto enrolment because it had to resolve historic issues processing contributions for clients.
Chairman of the board of trustees Nigel Waterson says: “Morten Nilsson has made a huge contribution not only to the success of Now: Pensions, but to the whole automatic enrolment project in the UK. He leaves an indelible legacy in the UK pensions sector.”