Pond takes up the post in December. He was a minister at the Department for Work and Pensions between 2003 and 2005 and is former Labour MP for Gravesham.
Prior to this he was chairman of the Low Pay Unit. In recent years he has served on the FSA’s working group on families and the Steering group on financial capability. He is also part of the Thoresen review.
FSA chief executive Hector Sants says: “I am delighted to welcome Chris to the FSA. He is already involved in our work on financial capability through his membership of the FSA’s Financial Capability Steering Group and his experience in public policy will make him a great asset to the FSA.”
Chris Pond says: “This is an exciting time to be joining the FSA. The National Strategy for Financial Capability is growing in momentum and profile. There are many challenges ahead, the FSA has demonstrated its commitment to the strategy by the £17.1m spend this year, and the pledge to keep financial capability high on the agenda with a budget of up to £20m in each of the years up to 2010/ 2011.”