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FCA appoints FOS review lead to board

Business-Handshake-General-Hire-Appointment-700x450.jpgThe watchdog has appointed consumer expert Richard Lloyd to be a non-executive director on its board.

Currently Lloyd is chair of the consumer complaint resolution organisation Resolver and is a founding trustee of the Money and Mental Health Policy Institute.

In April 2018 he was appointed to review the Financial Ombudsman Service after a Channel 4 documentary suggested a number of failures at the adjudicator.

Lloyd has also held senior roles in numerous consumer organisations, including Which? where he was executive director.

His three-year term on the FCA’s board will begin on 1 April.

Baroness Sarah Hogg has also been re-appointed as a non-executive director for a second three-year term, starting on 1 April 2019.

Baroness Hogg is an experienced director of listed companies including 3i, Carnival and GKN, and public bodies including the BBC. She is the FCA’s senior independent director.

Amelia Fletcher second term as a non-executive director has also been extended for a further year, up to 31 March 2020.

She will also continue to serve as a non-executive director and senior independent director of the Payment Systems Regulator during this period.

FCA chair Charles Randell says: “Richard’s proven expertise and deep experience of both consumer issues and financial services mean he is ideally placed to further reinforce the FCA board’s consideration of consumer needs.

“I know he will make a significant contribution and I look forward to working with him. I am also delighted that that Sarah Hogg and Amelia Fletcher will continue to serve on the board.”

Economic Secretary to the Treasury John Glen adds: “Richard Lloyd’s wealth of experience as a consumer expert will be a valuable contribution to the crucial work of the FCA, ensuring our financial sector keeps customers at the heart of how firms do business.

“I am also delighted to re-appoint Baroness Sarah Hogg for a further three-year term, and to extend Amelia Fletcher’s second term by a further year. Both Sarah and Amelia have brought considerable expertise to the FCA Board, and I am grateful for their continued contributions.”

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