Body overseeing pensions personal accounts names GC

Pensions body the personal accounts delivery authority (PADA) has named a former Freshfields Bruckhaus Deringer partner as its general counsel.

Nick Carter

Nick Carter

Nick Carter, who joins PADA from his role as chief corporate officer at consultancy firm PA Consulting, was previously chief legal counsel at Capital One Bank in Europe, having started his career as an IP and IT litigation lawyer at Freshfields.

At PADA he will play an active role in the delivery of the Government’s personal accounts scheme, which will come into effect in 2012. The personal accounts scheme will be a trust-based occupational pension scheme and is intended to complement existing workplace pension provision.

Carter will oversee all legal, risk, compliance and governance matters arising in the personal accounts delivery programme and will build these functions for the trustee corporation that will operate the personal accounts scheme.

Carter said: “My focus is to ensure that the multiple legal and other risks in the programme are well managed.

“I’ll also provide the board and executive with close support and counsel to help ensure successful delivery of the personal accounts scheme in time for the commencement of new employer duties in 2012.

“As such, one of my first priorities will be to decide how best to build our legal and risk capabilities for the programme delivery and for the longer-term needs of the trustee corporation.”

PADA chief executive Tim Jones added: “Nick is an exceptionally skilled and talented individual. He has a proven track record of working within, and providing legal advice to, the financial services sector as well as extensive experience of working at board level.

“In particular, his experience of building complex business and functional operations in many different environments will be a real asset to PADA.”