NEST Corporation has strengthened NEST Invest’s board with a new governance structure and the appointment of Sally Bridgeland as chair.
NEST said that this change and appointment will help ensure that the development and delivery of the investment strategy for NEST Corporation meets member investment objectives set by the NEST Corporation board, as well as providing robust governance to its Financial Conduct Authority-regulated subsidiary, NEST Invest.
NEST Invest received regulatory approval to launch back in January 2020 with the intention of implementing a “more sophisticated way of investing on behalf of its members”.
Before Bridgeland’s appointment, there was no chair, instead, the NEST board had a subsidiary investment committee, which will now be disbanded in light of the increased delegation to the executive and evolution of the NEST Invest board following Bridgeland’s appointment.
Bridgeland, as the chair of the NEST Invest board, will provide independent oversight in this new governance structure and will be responsible for overseeing the ongoing evolution of NEST Invest into a “world-class investment function”.
Bridgeland joins with a range of experience across insurance, pensions, asset management and investments as an adviser, trustee, and non-executive director. She has recently finished terms with Royal London, the Local Pensions Partnership, and Impax Asset Management.
She currently serves on the boards of the Development Bank of Wales, BelleVie, Pension Insurance Corporation, and RSA Insurance.
In July, Bridgeland stepped down as chair of Brunel Pension Partnership’s board following the UK government’s decision on local government pension scheme (LGPS) investment pool consolidation, to allow for a different leadership with the right experience to lead the partnership through a time of “negotiation and structural change”.
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