We consider the compact space of pairs of nested partitions of $\mathbb{N} $, where by analogy with models used in molecular evolution, we call “gene partition” the finer partition and “species partition” the coarser one. We introduce the class of nondecreasing processes valued in nested partitions, assumed Markovian and with exchangeable semigroup. These processes are said simple when each partition only undergoes one coalescence event at a time (but possibly the same time). Simple nested exchangeable coalescent (SNEC) processes can be seen as the extension of $\Lambda $-coalescents to nested partitions. We characterize the law of SNEC processes as follows. In the absence of gene coalescences, species blocks undergo $\Lambda $-coalescent type events and in the absence of species coalescences, gene blocks lying in the same species block undergo i.i.d. $\Lambda $-coalescents. Simultaneous coalescence of the gene and species partitions are governed by an intensity measure $\nu _s$ on $(0,1]\times{\mathcal M} _1 ([0,1])$ providing the frequency of species merging and the law in which are drawn (independently) the frequencies of genes merging in each coalescing species block. As an application, we also study the conditions under which a SNEC process comes down from infinity.