Liam Coleman has been appointed permanent chair of the Financial Ombudsman Service (FOS), following a year in the role on an interim basis.

The appointment was made by the Financial Conduct Authority (FCA) Board, with Treasury approval. Coleman began his three-year term on 10 October 2026.

His appointment comes as the FCA and the FOS work with the government on reforms to the UK’s financial redress system, aimed at making the handling of complaints more consistent and predictable for financial services firms and consumers.

Coleman (pictured) is also group chair of London & Quadrant Housing Trust and has held senior positions across financial services, regulation and the public sector.

His previous experience includes roles at the FCA, Nationwide Building Society, Royal Bank of Scotland, Co-operative Bank and an NHS foundation trust.

Ashley Alder, chair of the FCA, said: “Liam has brought strong leadership and valuable insight to the Financial Ombudsman over the past year.

“His extensive experience across financial services, regulation and public service organisations will be invaluable as we work together to support a redress system that is fair, predictable and effective for consumers and firms.”

Coleman said: “I am honoured to take on the permanent role as chair of the Financial Ombudsman Service. It plays a vital role in upholding fairness and trust in the financial system.

“I am pleased to be able to continue to work with the rest of the Board, the executive team, and our wider stakeholders.”

REDRESS SYSTEM REFORMS

The FOS handles disputes between financial businesses and their customers, including complaints involving mortgages, banking, insurance, loans, pensions and investments.

Its remit was expanded in April 2019 to include complaints from larger small and medium-sized businesses, as well as complaints about claims management companies.

Under the Financial Services and Markets Act 2000, the FCA is responsible for appointing the FOS chair, subject to Treasury approval.

The FOS board is responsible for ensuring that the organisation has sufficient resources to carry out its responsibilities effectively and independently.

The appointment provides continuity in the leadership of the service as work continues on reforms intended to improve the operation of the redress system for both consumers and financial services businesses.