Chief financial services Ombudsman to be appointed
18/03/1999
The new Financial Services Ombudsman Scheme Board is to recruit a Chief Ombudsman to head up the new one stop shop dispute resolution scheme for financial services consumers.
The Chief Ombudsman will initially advise the Board on setting up the new scheme. Once the service is in operation s/he will focus on policy, casework and on achieving consistently high quality in the resolution of disputes. The Chief Ombudsman will lead a panel of ombudsmen supported by caseworkers and will be personally responsible for resolving some of the cases.
Andreas Whittam Smith, Chairman of the Scheme Board said:
"This is a high profile job which is extremely important in protecting consumers in dispute with firms. We want the best possible candidate and the person appointed to this post will require exceptional judgement, intellect, communication and leadership skills."
A Chief Operating Officer is also being recruited to manage the merger process and to ensure that the new scheme is adequately resourced and cost effective.
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 Ombudsman Scheme will be the largest ombudsman scheme in the world. It will have an annual budget of around 15m and employ over 300 staff. It will be overseen by a board of directors chaired by Andreas Whittam Smith.
The Financial Services Ombudsman Scheme is a company limited by guarantee without share capital.
Full written information about these appointments including how to apply is available on request by telephoning the Schemes advisers on 020 8466 4126 (24 hours) not later than Thursday 8 April quoting reference DYSI/S/or T or G or OJ. Application closing dates will be Tuesday 13 April for the Chief Ombudsman, and Tuesday 20 April for the Chief Operating Officer. Saxton Bampfylde Hever plc have been appointed advisers. The Board of the FSO, announced on 22nd February, is made up of 12 public interest non-executive directors and is chaired by Andreas Whittam Smith.