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Trustee members

Nest Corporation is the Trustee of Nest. It’s made up of a Chair and up to 14 Trustee Members.

The Chair and Trustee Members set the strategic direction and objectives for Nest. They also have a number of legal duties, including making sure that the scheme is run in the interests of its members.

Nest’s Trustee Members have been selected for their wide range of experience, skills and pensions industry knowledge.

Find out how Trustee Members are appointed

Trustee Member profiles

Otto has extensive experience in pensions, financial services and consumer issues across a range of private and public sector organisations. 

Before starting his portfolio career he was Director General of the Association of British Insurers from 2011 to 2015. Previously he was chief executive of AEGON UK from 2005 to 2011. He was the independent reviewer of the Treasury Review of Generic Financial Advice – the Thoresen Review - published in 2008 which led to the creation of the Money Advice Service.

Otto became Chair of Nest Corporation on 1 February 2015. He is also Chairman of the Board of Aviva International Insurance, and the Board of Aberdeen Asset Management’s Life subsidiary. He is a governor of the Pensions Policy institute. In recent years he has served as a trustee of Young Enterprise (a charity supporting business and financial education in schools), StepChange, the debt advice charity and St Mungo's the homeless charity.

Otto's registered interests (PDF)

image of Ian ArmfieldIan has worked in the retirement and pensions sector for more than 25 years, principally as an audit and risk assurance partner with PricewaterhouseCoopers LLP until 2011. His other non-executive roles include being a director of Keystone Investment Trust and Managed Pension Funds Limited.

Ian’s registered interests (PDF)

image of Jill Youds

In addition to her role at Nest, Jill is Chair of the Judicial Pensions Board for the Ministry of Justice and also of the Northern Ireland Judicial Pensions Board. She’s Chair of the Trustee Board for the National Assembly for Wales Assembly Members’ pension scheme and is also Chair of Trustees for the Legal Services Commission pension scheme. Alongside this Jill is a non-executive director at University Hospitals Bristol NHS Foundation Trust.  

Prior to her non-executive appointments, Jill enjoyed an accomplished 25 year career in a range of senior leadership positions in the commercial sector, focusing on large scale transformation projects, HR, finance shared services and operations in blue chip organisations such as Virgin Media and Lloyds Banking Group.

Jill has wide sector experience and has delivered the employee proposition, including pensions, in both large and small companies. As such, she has a keen interest in service delivery and customer and member experience. Jill is a long standing fellow of the Chartered Institute of Personnel and Development.

Jill's registered interests (PDF)

image of Ron Jarman

Ron has extensive procurement experience as a senior commercial executive working for and with a large number of organisations, clients and bodies in the private and public sector. He’s currently a senior member of Proxima’s Consulting practice, where he specialises in process and performance improvements including supplier risk management.  Ron is a Board Trustee for World at Play, a charity that uses sport and play to enrich the lives of marginalised and refugee children. He’s also part of the Kashmir Fellowship, a multi-party initiative to use economic and leadership levers to enhance prosperity and peace in that region.

Ron's registered interests (PDF)

image of Tomas Carruthers

Tomas Carruthers is Executive Director of Kirkman, a firm providing advice and support in the field of social finance. He was Chief Executive of the Social Stock Exchange, which was launched by the Prime Minister in 2013. Prior to that appointment he was Chief Executive of Interactive Investor PLC, which he founded.

Tomas registered interests (PDF)

image of Helen Dean

Helen Dean, CEO of Nest Pensions, is one of the architects of auto enrolment and responsible for bringing 9 million UK workers into pension saving. During her time at DWP Helen was tasked with coming up with a solution to the UK’s chronic under-saving in pensions. Her degree in psychology led Helen to behavioural economics. Finding compulsion too extreme, Helen and her team started to explore nudge theory. Fast forward and having designed and built the policy that would change the face of pension saving in the UK, Helen moved to PADA, Nest’s predecessor. Here she moved from policy to delivery. Helen and the PADA team were faced with a blank piece of paper and a big challenge – to build a low-cost, high-quality pension scheme from scratch. 

In the last 8 years Helen has led the product, marketing and operations arms of Nest, before her appointment as CEO in September 2016. Since then, Helen has been at the helm of one of the largest pension schemes in the UK. Using her position to support women in pensions, Helen is a mentor to female pensions and non-pensions professionals, offering guidance and coaching. Helen has signed the Women in Finance Charter on behalf of Nest, overseen the creation of Nest’s first diversity group and published Nest’s gender pay report despite not being required to. Helen is committed to bringing more diversity to Nest’s senior team and is working with her board to establish a senior leadership programme to cultivate the next generation of diverse leaders for Nest. 

Download a high resolution image of Helen Dean (JPG)

Helen’s registered interests (PDF)

Chris Hitchen re-joined the Board of Nest in 2018, having previously served as a Trustee member from 2010 to 2015. Chris has over thirty years’ experience in investment and pensions, and is Chair of the Border to Coast Pensions Partnership, investing money for twelve LGPS pension funds with assets totalling £43 billion, as well as Chair of Scheme Committees for The Pensions Trust’s industry-wide housing association pension schemes totalling £5 billion. Previously Chris led the 350,000 member UK Railways Pension Scheme for almost twenty years, first as CIO then as CEO. 
Chris is a Board member for the Toronto-based International Centre for Pensions Management (ICPM), and for the UK’s Investor Forum, which promotes strategic dialogue between companies and investors. He chaired the Pension and Lifetime Savings Association (PLSA) from 2007 to 2009 and was the inaugural Chair of the Pensions Quality Mark, raising standards in DC pensions.  
Chris is an Actuary and an Honorary Fellow of the CFA Society of the UK.

Clive is an independent director of National Grid Gas plc and of National Grid Electricity Transmission plc, and a member of the Competition Appeal Tribunal. He is a former Board member of the Environment Agency, where he chaired their pension fund.  He is a past chair of the Confederation of British Industry for the North West of England, and is a former Board Member of a UK Department of State, of a Regional Development Agency, of a Utility Regulator and of the National Museums of Liverpool.

From 1991 to 2009 Clive worked for United Utilities Group plc, most recently as Managing Director of Asset Management and Regulation. Prior to joining United Utilities, Clive qualified as an accountant with ICI and then worked as a management consultant with Deloitte.

Martin has 37 years’ experience working in Financial Services across Barclays and Lloyds. He has covered a broad range of roles in his career from front line customer service and relationship management through to strategy and transformation and IT and Operational Services both in-house and outsourced. More recently Martin has worked in the 2nd Line Risk Function with group level accountabilities for Operational Risk, Regulatory Compliance, internal risk reporting and external risk disclosures, and significant structural reform programmes driven by regulatory and legislative requirements. 

Martin retired from full time executive roles at the end of 2016. He is currently a non-executive with AQA Education, chairing their Audit and Risk Committee, and is very much looking forward to working with Nest Corporation. His interests include walking, golf and skiing. Martin and his wife Valerie split their time between London and Devon.

Mutaz is the Chief Executive Officer of Squirrel. Mutaz has extensive financial services experience with a career spanning 20 years both as an investment banker in the US and the UK as well as an established entrepreneur in UK FinTech space.

Prior to founding Squirrel, Mutaz began his career as a fixed-income trader at Morgan Stanley in New York, a published global researcher, lecturer and sales/trader at Credit Suisse in both New York and London, and an account manager at PIMCO’s London practice covering Sovereign Wealth Funds and High Net Worth Individuals in the Middle East.

Mutaz’s educational background includes both a dual degree from MIT in Electrical Engineering and Computer Science as well as a Masters in Finance from London Business School. Mutaz also serves on the board of the latter as an alum contributor to the development of LBS’s Master’s program.

Richard Lockwood

Richard is a Chartered Management Accountant with broad financial experience and extensive knowledge of corporate governance, commercial business partnering, strategic planning, M&A activity and system improvements.

His experience over the last 20 years includes leading financial roles in a number of blue-chip UK retail and consumer product companies, such as Home Retail Group, BAA, Kingfisher, Whitbread and BP.

Richard’s registered interests (PDF)

Trustee committees

We have a number of committees, each chaired by a Trustee Member, which focus on key aspects of monitoring and control. These include audit, risk, investment and remuneration.

Policy and procedures

What Trustee Members do and how their meetings are run are defined in documents called the Nest terms of reference. We’ve also outlined appropriate ethical behaviour in our Trustee Members code of conduct.

Trustee meetings

We keep notes of the Trustee Member meeting to ensure complete transparency in how Nest is run.

Nest Corporation annual report

Our annual report outlines what we’ve done over the last financial year.

The executive team

Day-to-day management of Nest Corporation is delegated by the Trustee to the executive team.

Last updated 07/19