Appointment of the new Chief Executive for National Savings and Investments

The Chancellor has appointed Jane Platt as the new Chief Executive of National Savings and Investments (NS&I).

Announcing the appointment Ed Balls MP, Economic Secretary to the Treasury said:

"Jane Platt’s experience in retail financial services, track record in building businesses and expertise in operations and marketing will add a new dimension to NS&I. She will be key to shaping and delivering the next phase of the agency’s development, building on the current success of the organisation.”

"This is an exciting time for NS&I, which has a clear strategic direction, a track record of successful delivery, and an important brand to sustain and develop for the benefit of the UK saver and taxpayer.”

Notes for editors

1. Jane Platt has been appointed Chief Executive, and Director of Savings, of National Savings and Investments. She is being appointed on an initial three-year contract and will take up her position on 4 September 2006.

2. Jane Platt is currently on the Board of Witan Investment Trust Plc and Edinburgh UK Tracker Trust Plc, and was until recently Chief Operating Officer, Customer Segments, Reuters, where she was responsible for strategy and business planning. She has a long track record in financial services both in the UK and internationally. Previous posts have included Chairman and Chief Executive of Barclays Stockbrokers and Managing Director of BZW Investment Management.

3. Jane Platt is 49 and is married. She succeeds Alan Cook, who was appointed as Managing Director of Post Office Ltd on 1 March 2006. Trevor Bayley, Finance Director and Deputy Chief Executive, was appointed Acting Chief Executive on Alan Cook’s departure.

4. National Savings and Investments is a government department and an agency of the Chancellor. Its principal objective is to assist in the financing of the government's debt, by borrowing in the retail market at an overall cost that is cheaper than the wholesale market.

5. National Savings and Investments markets and sells a range of savings products to the public including Premium Bonds. About £74bn is currently borrowed through National Savings and Investments products, which accounts for about 15% of total central government sterling debt.

6. National Savings and Investments employs about 135 staff, who are mostly located at its head office in London.

7. Media enquiries should be directed to National Savings Press Office on 020 7348 9301 or Treasury Press Office on 020 7270 5238.