Now: Pensions has announced the departure of its CEO Morten Nilsson and the appointment of Troy Clutterbuck as interim CEO.

Morten founded Now: Pensions in the UK in 2011 and over the past six years he has played an integral role establishing the company as one of the UK's leading auto enrolment providers with over 1.3 million members and more than 26,000 participating employers.

The Board thanked him for his significant contribution in building NOW: Pensions from the ground up to its current position as a leading provider of pensions in the auto enrolment marketplace.

The chairman of the board of Trustees Nigel Waterson said: "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."

Troy 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 several key roles including CFO UK Employee Benefits and commercial director, Latin America and Canada.

Meanwhile, Legal & General Investment Management (LGIM) has expanded its Active Equity team with the appointment of Nigel Masding as lead manager of the Real Income Builder Fund.

Nigel joins LGIM from Longview Partners, where he was a partner and global equities research analyst, and prior to this, he was a senior equities portfolio manager at HSBC Halbis Capital Management.

Nigel has also held positions at First State Investments and McKinsey & Company.

Designed as an outcome-oriented fund, the L&G Real Income Builder Fund launched in January 2015 for long-term income oriented investors, with a broad applicability across institutional and retail clients.

First published 31.08.2017

Lindsay.sharman@wilmingtonplc.com