FCA appoints Baroness Manzoor as new FOS chair

The Financial Conduct Authority (FCA) board has appointed Baroness Zahida Manzoor as chair of the Financial Ombudsman Service (FOS), having already been approved by HM Treasury.

Baroness Manzoor will take up the role on 2 August 2019, succeeding Sir Nicholas Montagu who is stepping down after more than seven years in post.

Manzoor was appointed to the House of Lords in 2013, where she served as House of Lords Government Whip and Minister between March 2018 and May 2019. Before joining the Lords, Baroness Manzoor spent over 20 years at board level within large, complex organisations. She served as The Legal Services Ombudsman for England and Wales and The Legal Services Complaints Commissioner.

Commenting on her appointment, Manzoor said: “My appointment to the role of chair of the Financial Ombudsman Service follows a career dedicated to public service and ensuring fair treatment in people’s everyday lives.

“I very much see that continuing with the ombudsman service. I wish Sir Nicholas Montagu well as he hands me the baton and I look forward to working with Caroline Wayman and ombudsman service colleagues, who I know are committed to providing a modern and first rate service to all. And it’s vital too that we maintain effective and constructive relationships with all key stakeholders to ensure we all work together in the best interest of all users of the service.”

Current chair, Nicholas Montagu, added: “I am really pleased to be handing over to Zahida Manzoor. Our organisation is very different from the one I joined 7 years ago, and change is a continuing theme. But so too are our values of fairness and public service, and the dedication of our people who have achieved so much during my time here. Zahida is ideally placed to lead both that change and our future achievements and I wish her well in doing so.”

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