back to menuThe Financial Services Ombudsman Scheme Board has announced the appointment of Walter Merricks, currently the Insurance Ombudsman, as the new overlord of all the Financial Ombudsman schemes.
This single Ombudsman Scheme was proposed in the Financial Services and Markets Bill, published by the Treasury in draft form last July.
As Chief Ombudsman, Mr. Merricks will bring together the Banking Ombudsman, The Building Societies Ombudsman, the Investment Ombudsman, the Insurance Ombudsman, The PIA Ombudsman Bureau, the Personal Insurance Arbitration Service, the SEA Complaints Bureau and Arbitration Service and the ESA Independent Investigator.
The Chairman of The Financial Services Ombudsman Scheme Board, Andreas Witham Smith, has welcomed the appointment, saying: "I am delighted to announce Walter Merricks’ appointment. This is an especially important role to which he brings a wealth of experience, skills and expertise, and a clear vision of how the new Scheme should develop. This will prove invaluable during the merger of the existing schemes and the establishment and further development of a first class single Ombudsman Scheme.
Of his new job Mr. Merricks says: "My task is to bring together and build on the success of the existing Ombudsman Schemes with a single point of access for complainants. The new scheme should underpin consumer confidence by creating a united and effective system for resolving disputes between customers and providers of financial products and services. Maurice Healy, Chairman of the Insurance Ombudsman Council, said of the appointment "It has been a pleasure and a privilege to work with Walter for the last three years. We shall certainly miss him greatly at the IOB, but his appointment is a significant step towards making the new scheme a success.
Marie Jennings, NfCG Chairman, who is Deputy Chairman of the Insurance Ombudsman Council, and knows Walter Merricks well, welcomes the appointment. "He is inspirational and innovative, qualities which will be very important for the new scheme" she said.
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