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FSCS announces new chief executive

The Financial Services Compensation Scheme has appointed Mark Neale as its new chief executive.

Neale, who is the former director general of HM Treasury for budget tax and welfare, takes up the post in May succeeding Loretta Minghella who led the organisation for five years.

He will join the board of the FSCS following confirmation of his appointment by the FSA yesterday.

Neale has held several senior roles in Government departments including director of finance, commercial and corporate services with the employment service.

FSCS chairman David Hall says: “I am pleased to welcome Mark Neale to the Board of the FSCS. He brings a great breadth and depth of leadership experience in large scale contingency planning, operational delivery and financial policy making. He will be central to developing an even stronger focus on the consumer, building on the outstanding foundations laid by Loretta Minghella. I am confident Mark will make a significant contribution to the FSCS, to consumer protection and to consumer confidence.”

Neale says: “I am delighted to be taking up the post of FSCS Chief Executive. The organisation has risen superbly to the challenges of the last two years and embarked on an ambitious programme of development to strengthen its ability to respond quickly in the event of financial failure. I am looking forward to building on the FSCS’s record of delivery and ensuring that it continues to provide an efficient and reassuring service to consumers in these changing times.”



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There are 8 comments at the moment, we would love to hear your opinion too.

  1. Incompetent Regulators Awards Team 29th January 2010 at 11:52 am

    I see he doesn’t really have the proper qualifications for this job which is usual with the F-Pack. Perhaps my local road sweeper should have been given a chance to be the new CEO. At least he would keep his office clean. This is very discriminatory to other unqualfied potential candidates!

  2. I can’t believe Adam Crozier was over looked!

  3. David Hall makes a less than convincing case for recruiting Mr Neale to this position.
    I would have thought that having recently held a senior post at the Treasury would have be one of the strongest of possible reasons for NOT employing him.
    Naturally enough Mr Neale is delighted, his comments hint that he regards this as a bit of a sinecure.
    All these QUANGOS with Financial at the beginning, as in FSA, FOS, FSCS etc. seem to be employing senior people with little experience of the issues their organisations face. The new lady at the FOS seems to have most of her management experience as an archivist. That will help her file, in exquisite order, all those complaints the FOS receive.

  4. First FOS and now FSCS, new captains on sinking ships?

  5. Guess the salary and put 5p in the pot for Haiti!

  6. Who are these twats – we know he doesn’t have the experience, but what are his qualifications ? Seriously, what qualifications does he hold ?

    These people are all members of an exclusive club !!!

  7. Jobs for the boys- how very cosy!

  8. “outstanding foundations”. Is that a polite way of saying, of the previous incumbent, “thanks very much, but perhaps we’ll now try and do it properly”?

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