NEST chief executive to stand down after eight years

first_imgNational Employment Savings Trust (NEST) Corporation chief executive Tim Jones is to stand down at the end of the year after eight years in charge of the auto-enrolment vehicle.Jones was appointed in October 2007 as head of the Personal Accounts Delivery Authority (PADA), the government body charged with delivering NEST – an auto-enrolment master trust with a public service obligation to accept all employers.PADA was renamed NEST in the build-up to auto-enrolment, and its only chief executive will now leave to develop a digital financial product in a throwback to his career prior to joining the organisation.Jones said the development of the digital product had been an ambition and that he hoped his long notice period demonstrated his commitment to the master trust’s success. Before joining NEST, Jones was head of retail banking at NatWest and chief executive of Modex, Purseus and Simpay – banking and mobile payment financial software firms.As chief executive, he was key in delivering the trust that opened its doors to new members as auto-enrolment began in October 2012.NEST now has close to 2m members with more than £330m (€446m) in assets.The organisation said it was commencing its recruitment drive for a successor immediately and hoped to have someone in place by the time Jones stepped down.Otto Thoresen, the recently appointed chairman at NEST, praised Jones for his “fantastic” work in leading the body.“He has successfully taken NEST from the early stages of development through to the first key stages of delivery and established NEST as an integral part of auto-enrolment in the process,” he said.Thoresen was appointed chair of the trust after Lawrence Churchill stepped down earlier this month after five years in the role, overseeing the launch of auto-enrolment alongside Jones.last_img read more

Rays’ 2-way player McKay to have season-ending surgery

first_img Tampa Bay Rays two-way rookie Brendan McKay will have season-ending surgery on his left throwing shoulder Wednesday.The 24-year-old McKay tested positive for the coronavirus in early July and missed most of the club’s preseason camp. He was cleared to resume activities July 31 and reported to the club’s alternate site, but then experienced stiffness in his pitching shoulder and was shut down last week.“Obviously frustration, but we’re optimistic with the procedure that Brendan will have. Hopefully we’ll have him for 2021 spring training and go from there,” Rays manager Kevin Cash said Tuesday night before a series opener against the Yankees. “There’s no doubt it’s unfortunate for him, for us, because we probably would have already been using him, but just the shoulder never cooperated.”Cash said the issue is in the back of McKay’s shoulder, but the exact nature of the injury won’t be known until after the procedure.McKay was 2-4 with a 5.14 ERA in 13 games (11 starts) last season, and went 2 for 10 with a home run as a designated hitter. He’s also played 49 minor league games at first base since being selected fourth overall in the 2017 draft out of Louisville.The Rays sit in second place in the AL East entering Tuesday’s action, 2 1/2 games behind the Yankees.Image credits: AP WATCH US LIVE Associated Press Television News SUBSCRIBE TO US COMMENT Last Updated: 19th August, 2020 07:42 IST Rays’ 2-way Player McKay To Have Season-ending Surgery Tampa Bay Rays two-way rookie Brendan McKay will have season-ending surgery on his left throwing shoulder Wednesdaycenter_img First Published: 19th August, 2020 07:42 IST FOLLOW US LIVE TV Written Bylast_img read more