Financial Ombudsman Service Has New Chairperson

Jack Humphrey, Regulatory journalist
December 05, 2011 /

The Financial Services Authority (FSA) has appointed Sir Nicholas Montagu as the new chairman of the Financial Ombudsman Service (FOS).

The Financial Ombudsman Service was set up under the Financial Services and Markets Act 2000 to settle complaints between consumers and businesses providing financial services.

Sir Nicholas is currently the chairman of the Aviva UK Life With-Profits Committee, a director of the Pension Corporation and is a former chairman of the Board of Inland Revenue.

Lord Turner, FSA chairman said: “Nick has had a distinguished career and brings a wealth of experience in demanding board positions. His predecessor, Sir Christopher Kelly, steered the Ombudsman Service through challenging periods, and the next few years will be no easier. This role needs a customer-service champion to help shape the Ombudsman’s future role in the new regulatory structure, and that is what we have with Nick.”

Sir Nicholas Montagu said: “I am delighted to have been appointed chairman of the Financial Ombudsman Service. It is a strong and innovative organisation, which over the last ten years has been recognised for the increasingly significant role it plays. I look forward to working with Natalie Ceeney and her colleagues as we meet the challenge of providing an ever-improving service, with customer demand set to reach record levels.”


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