FSA announces new Ombudsman scheme board

FSA Chairman Howard Davies said:

"I am delighted to be able to announce a Board of such calibre. The Chairman and Directors bring together a wealth of valuable skills and expertise. We can now move forward with confidence, working with the existing schemes to ensure a smooth transition and the establishment of a first class single Ombudsman Scheme for financial services consumers."

Andreas Whittam Smith, Chairman of the new Scheme Board said:

"Bringing eight schemes together is a tough task, but the prize a single cost-effective, accessible and fair dispute resolution scheme is extremely desirable"

Members of the Board are:

Andreas Whittam Smith (Chairman), President, British Board of Film Classification, City Editor of The Daily Telegraph from 1978 1985 when he resigned to found The Independent. Editor of The Independent 1986-1994.

Brian Landers (Deputy Chairman), Director Waterstones booksellers, early career with Commercial Union then senior management positions in Sainsburys, Habitat, WH Smith and first Finance Director of the Prison Service.

Michael Barnes, Chairman of the British and Irish Ombudsman Association 1995-98, formerly Legal Services Ombudsman.

Robert Crawford, Head of Service Quality at the Royal Bank of Scotland, Board Member Banking Ombudsman Scheme.

Ruth Evans, Director of the National Consumer Council 1992-98, previous career in the voluntary sector.

Maggie Lee, Director of Resources Pearson Television, previously senior HR jobs with ICL, British Aerospace, British Rail.

Oonagh McDonald, Director Investors Compensation Scheme, self-employed research and management consultant in financial services, Director of FSA (formerly SIB) 1993-98.

Sylvie Pierce, Chief Executive London Borough of Tower Hamlets, formerly Chief Executive of Reading Council, Director of Personnel for two London Boroughs.

John Rawlings, Vice Chairman Skipton Building Society, early career at the Foreign Office then Morgan Grenfell, where he became Deputy Chairman.

Richard Thomas, Director of Public Policy Clifford Chance, formerly Director of Consumer Affairs Office of Fair Trading, Head of Public Affairs National Consumer Council; closely involved in setting up the Insurance, Banking and Building Societies Ombudsman Schemes.

Helena Wiesner, Consumer affairs consultant, formerly at Consumers Association. Deputy Chairman of Personal Investment Authority, Council Member Insurance Ombudsman and Banking Ombudsman, Board Member PIA Ombudsman.

Charles Wilson, Group Secretary and Solicitor Nationwide Building Society, Chairman Building Societies Ombudsman Board.

Notes for editors

The new Financial Services Ombudsman Scheme will bring together The Banking Ombudsman; The Building Societies Ombudsman; The Investment Ombudsman; The Insurance Ombudsman; The PIA Ombudsman Bureau; The Personal Insurance Arbitration Service; The SFA Complaints Bureau and Arbitration Service; The FSA Independent Investigator. The new Financial Services Ombudman Scheme will be the largest ombudsman scheme in the world. It will have an annual budget of around 15m and employ over 300 staff. The Financial Services and Markets Bill was published by Her Majestys Treasury in July 1998. The Financial Services Ombudsman Scheme will be a company limited by guarantee without share capital. All Board Members are public interest non-executive Directors. The selection process for Board Members included public advertisements and interviews with a selection panel including public interest representatives. The appointment of the Chairman is made by the FSA with the approval of the Treasury. The Board will be holding its first meeting on 1st March 1999.