The Money Advice Service has appointed The Pensions Regulator director Charles Counsell as its new chief executive.
Counsell, who joined TPR’s board in 2011 and currently oversees the roll out of automatic enrolment, will replace Caroline Rookes, who announced she would be stepping aside last November.
Counsell was awarded an OBE in the latest New Year’s honours list for “services to workplace pension reform” and will take charge of MAS from 5 June, when Rookes will leave the organisation.
He said: “Making sure people have easy access to the guidance they need to steer through critical financial issues is very important to the UK, and I am both honoured and excited to have the chance to build on MAS’s work so far. My experience of guiding organisations though periods of profound change will I’m sure be invaluable as we move towards establishing the new single financial guidance body.”
MAS is set to be rolled in to the two other major public guidance bodies, The Pensions Advisory Service and Pension Wise, to create a single guidance body no earlier than Autumn 2018.
The branding of the new service has yet to be decided but, speaking to Money Marketing last month, Rookes said that it would make sense to not include the term “advice” in its title.
The FCA makes the appointment to head the MAS, which must be approved by the Treasury. The leadership of the single guidance body is also yet to be determined.