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Pension Funds

BT Pension Scheme names new CEO

Morten Nilsson was named CEO of BT Pension Scheme Management Ltd., taking the top role at one of the U.K.'s largest pension funds.

The trustee of the roughly 50 billion ($65.1 billion) BT Pension Scheme, London, said in a news release Tuesday that the appointment was effective immediately. Mr. Nilsson replaced Eileen Haughey, who the firm said in January would step down from the role following the conclusion of the 2017 actuarial valuation. A specific date was not set and could not be learned.

Mr. Nilsson reports to Paul Spencer, chairman of the fund trustee and chairman of the BTPS Management board.

The firm provides investment management and advisory services to the trustee. Mr. Nilsson is responsible for leading all aspects of support to the trustee, including asset and liability management, operations, administration and other participant services.

"The trustee is delighted to welcome (Mr. Nilsson) to the team, and we look forward to working with him to further strengthen the activities of the trustee of the BT Pension Scheme, and support our 300,000 members," Mr. Spencer said in the news release.

Mr. Nilsson was most recently founder and CEO at the 600 million multiemployer defined contribution plan NOW: Pensions, London. He was replaced by Troy Clutterbuck on an interim basis in August 2017; Mr. Clutterbuck was appointed to the role permanently this year.

A spokesman for BTPS Management could not be reached for comment.