New NS&I Board appointments

The Economic Secretary to the Treasury has announced today (18 March 2024) a number of appointments to the National Savings and Investments (NS&I) Board.

Gerard Lemos CMG CBE has been appointed as Chair of the NS&I Board, ahead of the term of the incumbent chair, Ed Anderson CBE, coming to an end in June 2024. Luke Jensen and Melanie Moreland have also been appointed to the Board as non-executive directors (NEDs), as one of the current NEDs, Jill Lucas, also steps down from the Board in June 2024.

Gerard, Luke and Melanie’s three-year terms will begin from 1 April 2024. Gerard, Luke and Melanie have executive and non-executive experience in senior finance positions which has seen them successfully deliver strategic change within large and complex organisations.

Gerard has had a broad non-executive and Board level career across the private and public sector spanning over 30 years. Since 2023, Gerard has been Chair of the London Institute of Banking and Finance and, since 2018, he has been Chair of the Board and lead non-executive director for HM Prisons and Probation Service.

Luke is an established senior executive, particularly within retail environments and most recently as CEO of Ocado Solutions. Luke is currently Executive Chair at Hana Group SAS and, since January 2024, an independent non-executive director for The Co-operative Group.

Melanie is an experienced executive with an extensive career in financial services. Since June 2021, Melanie has been the Head of Commercial Banking Customer Engagement, and Customer Journey Execution at NatWest. She will step down from her position with NatWest in July 2024. She was previously a non-executive director for Queen Margaret University for six years until December 2023.

The Economic Secretary to the Treasury, Bim Afolami MP said:

“I would like to welcome Gerard, Luke and Melanie to their new roles on the Board. This is an exciting time to join the NS&I Board as NS&I looks to progress its transformation programme and move to a multi-supplier model. Their collective experiences will bring valuable and unique insights to the Board and continue the Board’s excellent work of ensuring the organisation delivers new and innovative services as the nation’s savings bank.

I would also like to take this opportunity to thank the outgoing Chair, Ed Anderson CBE, and non-executive director, Jill Lucas, for their service and contributions to the NS&I Board.”

Dax Harkins, NS&I Chief Executive, said:

“I’d like to offer my thanks to both Ed and Jill as they come to the end of their terms on NS&I’s board. Over Ed’s seven years as Chair, he has helped to steer NS&I through a period of great change and leaves with an outstanding record of service and success. We’ve seen customer deposits grow from £147 billion to over £230 billion, attracted new savers to Premium Bonds by making them more accessible, and launched the first Green Savings Bonds.

“In her five years as Non-Executive Director Jill has made a huge contribution to NS&I, especially in her role supporting our transformation programme. Throughout their time with us, Ed and Jill have always been great champions of our customers, taxpayers and our colleagues here at NS&I, and we wish them well.

“I look forward to welcoming our new Chair and members of the Board, and working with them as we continue to transform our business to become the most trusted savings provider in the UK.”

Further information

• The appointments of Gerard Lemos CMG CBE, Luke Jensen and Melanie Moreland were regulated by the Office of the Commissioner for Public Appointments (OCPA) and conducted under fair and open competition.
• Gerard Lemos, Luke Jensen and Melanie Moreland have confirmed that they have not engaged in any political activity in the past five years.
• Non-executive members of NS&I’s Board ensure a sound strategy is in place to meet the organisation’s remit of raising cost-effective debt financing for the government. They also act as an external source of advice, have oversight of risk control and ensure NS&I’s links with its outsourcing partners, remain open and transparent.
• NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments. All products offer 100% capital security because NS&I is backed by HM Treasury.

https://www.gov.uk/government/news/new-nsi-board-appointments