The FSA has appointed five new non-executive directors to the board of the Consumer Financial Education Body.
The new appointments include National Literacy Trust chief executive Jonathan Douglas, MGM Assurance deputy chair and Safe Home Income Plans Group chair Laurie Edmans, strategy, business change and performance improvement consultant Richard Hughes, independent consultant on regulation and consumer issues Stephen Locke and NHS Direct chair Joanne Shaw.
They join existing chairman Gerard Lemos, chief executive Tony Hobman and non-executive director Louise Macdonald. The board’s first meeting will be held in January 2011.
Cfeb is an independent body, created in April 2010 by the Financial Services Act 2010. It is responsible for helping consumers understand financial matters and manage their finances better.
The FSA appoints the directors of Cfeb and the selection panel included FSA director of conduct policy Sheila Nicoll, FSA non-executive director Brian Pomeroy and Lemos.
Lemos says: “I am delighted to welcome this unique team to the Cfeb board. Their varied backgrounds and experience will be invaluable for our success. Creating Cfeb’s long-term strategy is a key output for this year and I look forward to working with the new team to launch it in spring 2011.”