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FOS names new chief executive

The Financial Ombudsman Service has appointed Caroline Wayman as chief executive and chief ombudsman.

Wayman has been with the FOS since 2000 and is currently principal ombudsman and legal director. She previously worked in the insurance sector and is a barrister by training.

She has become chief executive with immediate effect.

Deputy chief executive Tony Boorman had assumed the chief executive role on an interim basis until a permanent successor to Natalie Ceeney had been appointed. Ceeney left the FOS in January to join HSBC as head of customer standards.

FOS chairman Sir Nicholas Montagu says: “Caroline defines everything that is best about the ombudsman, and she will bring freshness, bold thinking and vigorous action to our plans for the future. As chief ombudsman she will ensure the service stays relevant and attuned to the needs of our customers – consumers and businesses.

“The board and I congratulate her on her appointment and look forward to working with her, as we take the ombudsman service into the next decade.”

Wayman says: “The ombudsman has evolved beyond recognition since I first joined over a decade ago. And it will change just as much again in the future, to reflect the changing world around us.

“So I’m delighted and proud to be given the opportunity to build on the very best of what the ombudsman has always been about – and lead the service into our crucial next phase.”

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Soren Lorenson 23rd July 2014 at 4:51 pm

    I like that she has supplied a ‘selfie’ as her official picture. Hopefully she’ll continue to show restraint in her spending of our money. Also, being a barrister by training maybe she’ll have a little more respect for standard legal principles than the bizarre law-making operated by FOS in the past.

    Let’s support her appointment and wish her well. I hope she runs the FOS in a way that can be respected by the industry as rigorous and fair.

  2. As the new head, will she engage with APFA and the FCA in a discussion about their claim to a right to Infinite Judgement? She could argue a case for a longer longstop, but NO longstop is an abuse and morally repugnant.

  3. Julian Stevens 24th July 2014 at 8:11 am

    Phil ~ I don’t think she’s likely to see arguing for restoration of the longstop as part of her brief, particularly if that would mean taking on the FCA. But at least, unlike her predecessor, she has both relevant experience and qualifications, so for that I suppose we should be grateful.

  4. Whilst she has experience and qualifications do not forget that the advertisement for the post when Natalie Ceeney rose to the top stated that legal experience was not necessary.

    Such a statement can only be made if the organisation has no intention of linking its processes and rules to those of the law.

    Do not anticipate any changes. Experience usually outlasts expectation.

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