The Financial Conduct Authority has appointed Liam Coleman as interim chair of the Financial Ombudsman Service, with effect from 10 October 2025.
Coleman, a veteran of the financial services and public sectors, brings more than three decades of experience to the role. He is a former chief executive of The Co-operative Bank and has held senior treasury positions at RBS and Nationwide Building Society.
In addition to his financial credentials, he currently chairs Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust, and also serves as interim chair of Royal United Hospitals Bath NHS Foundation Trust.
He will replace Baroness Zahida Manzoor, who is stepping down after serving two terms.
Coleman’s appointment follows an unsuccessful initial recruitment process for a permanent chair. He will lead the Financial Ombudsman board on an interim basis until a long-term successor is confirmed.
Ashley Alder, chair of the FCA, said: “I am delighted that someone with Liam’s depth of experience will lead the Financial Ombudsman’s board during what is a pivotal time for the organisation.
“I want to thank Baroness Manzoor for all she’s done to steer an ambitious improvement programme at the Ombudsman over the last six years.”
Coleman described his appointment as an honour, noting the organisation’s central role in maintaining trust in the financial system.
“I look forward to working closely with the board, executive team, and our wider stakeholders – including the Treasury and the FCA,” he said.
The appointment comes as the FCA and the Financial Ombudsman Service continue work to modernise the UK’s financial redress framework. A key part of that effort is aimed at reducing delays in the compensation process and improving the efficiency of case handling.
Later this summer, the Ombudsman is expected to consult on a revised case fee structure for financial firms, proposing tiered charges that aim to encourage early resolution of complaints and ensure the system remains fair and proportionate.
