NEST hires deputy chief investment officer

John St. Hill was named deputy chief investment officer at the National Employment Savings Trust, London, said a spokeswoman for the plan.

The position is new, working with Mark Fawcett, chief investment officer, and the rest of the investment team for the £1.3 billion ($1.6 billion) retirement plan.

“We’re already looking after over £1.3 billion on behalf of our members and that’s set to grow rapidly over the next few years,” said Mr. Fawcett in a news release. “With this appointment, we’re adding to the expertise and experience of the investment team at this crucial time.”

Mr. St. John was a principal at the £23.4 billion Pension Protection Fund, London, where he was responsible for the fixed-income and equity programs. A spokeswoman for the PPF said there was not yet an update on a replacement.