NEST has appointed its chief financial officer (CFO) Richard Lockwood as a member of its reshaped trustee board which unites executives and non-executives.
Lockwood (pictured) joined NEST's board of trustees on 1 September, and his term will run for a total of five years.
He first took on his role as CFO in 2014, having previously worked at Home Retail Group and the airport operator British Airport Authority. In total, he has over 25 years' experience working across the financial industry.
Lockwood said: "My roles as CFO and trustee naturally complement each other and being on the Board will help underpin the strong financial governance as NEST continues to grow."
His appointment follows a string of appointments to the trustee board, including Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen, alongside the master trust's chief executive Helen Dean, effective on 1 June.
The appointments, which were approved by secretary of state for work and pensions Esther McVey, marked the start of a phased approach to move NEST's board to a unitary board structure, effectively merging the NEST corporation board, or non-executive roles, and the executive team in a bid to improve decision-making and accountability.
This followed on from the Department for Work and Pensions' tailored review of the master trust, published on 28 March, concluding it should become a unitary board in line with general good governance practice, the UK Corporate Governance Code specifically.
Earlier this month, the master trust announced it was looking for its first private credit manager as it seeks an increase in cost-effective investments in private markets and alternative asset classes.
The government has confirmed the current interim chairwoman of The Pensions Ombudsman (TPO), Caroline Rookes, will continue the role in a permanent capacity.
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
Former Financial Regulators Complaints Commissioner Antony Townsend is to become chair of an expanded Determinations Panel at The Pensions Regulator (TPR).
Six members of Ross Trustees’ pension trustee and support teams have been promoted into new roles.