Liam Coleman has been appointed
interim chair of the Financial Ombudsman Service. He will take up
the role on 10 October 2025.
Liam has over 30 years' extensive
financial services, public sector and board experience. He was
formerly chief executive officer of The Co-operative Bank, deputy
group treasurer and group head of capital management at The Royal
Bank of Scotland (RBS) and group director, treasury at Nationwide
Building Society. Liam currently chairs Great Western Hospitals
NHS Foundation Trust and London and Quadrant Housing Trust, and
is interim chair of Royal United Hospitals Bath NHS Foundation
Trust.
Liam will succeed Baroness CBE, who is stepping down
after 2 terms in post. Liam will chair the Financial Ombudsman's
board until a permanent appointment is made, after the initial
recruitment campaign proved
unsuccessful.
Ashley Alder, Chair of the
Financial Conduct Authority (FCA),
commented:
“I am delighted that
someone with Liam's depth of
experience will lead the Financial Ombudsman's board during what
is a pivotal time for the
organisation.
"I want to thank for all she's done to
steer an ambitious improvement programme at the Ombudsman over
the last 6 years.”
Commenting on his appointment,
Liam Coleman said:
“I am honoured to take on the role of
interim chair at the Financial Ombudsman Service. It plays a
vital role in upholding fairness and trust in the financial
system.
“I look forward to working closely
with the board, executive team, and our wider stakeholders –
including the Treasury and the FCA.”
The FCA and the Financial Ombudsman
are currently seeking to modernise the financial services redress
system to help prevent delays to compensation. As part of this,
the Financial Ombudsman plans to consult later this summer on
different levels of case fees for financial firms, to make the
system fairer and support early
resolution.
Notes to
editors
-
The FCA is required by the Financial
Services and Markets Act 2000 (FSMA) to appoint the chair of
the Financial Ombudsman Service, with the appointment being
approved by HM Treasury.
-
The board of the Financial Ombudsman
is entirely non-executive and is responsible for ensuring that
the service is properly resourced and able to carry out its
work effectively and
independently.
-
Liam Coleman joined the FCA board in
November 2019. Liam will leave his current position as
non-executive director at the FCA to take up his role at the
Financial Ombudsman.
-
He has over 30 years' experience in
the banking industry in a variety of roles spanning
retail and
commercial banking and wholesale
banking in his role as treasurer at 3 banking
organisations.
-
Current roles include chairman of
Great Western Hospitals NHS Foundation Trust and London and
Quadrant Housing Trust, interim chair of Royal United Hospitals
Bath NHS Foundation Trust, associate of the London Institute of
Banking and Finance and an associate of the Association of
Corporate Treasurers. He also holds an MBA from Warwick
Business School.
-
Previous board and leadership roles
include chief executive officer of The Co-operative Bank plc,
and deputy group treasurer and group head of capital management
at RBS and group director, treasury at Nationwide Building
Society.
-
The Financial Ombudsman was set up
to resolve complaints between financial businesses and their
customers. It can help with most financial services – including
banking, insurance, fraud and scams, payment protection
insurance (PPI), loans, mortgages, pensions and investments.
From 1 April 2019, its remit was extended to cover complaints
from larger small and medium sized businesses, and about claims
management companies.
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Find out more
information about the FCA.
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Find out more information
about the Financial
Ombudsman.
