The BT Pension Scheme (BTPS) has named Morten Nilsson as CEO of the £50bn its management arm.

The former Now Pensions CEO will report directly to BTPS chairman of the trustee, Paul Spencer, and will be responsible for providing a range of investment management and advisory services to BT Pension Scheme Management Limited (BTPSM).

Nilsson will also be required to deliver asset and liability management, operation and administration services to one of the largest pension schemes in the UK.

He joins having left his position at Now Pensions in February of this year after joining in 2011.

Prior to this, Nilsson spent over a decade with the £90bn Danish pension scheme ATP, working his way up to head of international operations.

He said: “I very much look forward to working with the trustees and the rest of the team. It is an ambitious and dynamic organisation with a history of successfully using the scale of the fund to find new innovative and forward-looking ways to protect its members’ interests. It is a great privilege to be joining the BT Pension Scheme Management.”

Spencer added: "The trustee is delighted to welcome Morten to the team and we look forward to working with him to further strengthen the activities of the trustee of the BT Pension Scheme, and support our 300,000 members.”

In May, BT Pension Scheme (BTPS) agreed on a 13-year deficit recovery plan and reached an agreement on its 2017 triennial valuation, where its deficit from £7.6bn to £5.3bn over the year to 31 March 2018 on an IAS 19 accounting basis.

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