The board of the Financial Ombudsman Service has appointed Caroline Wayman as chief ombudsman and chief executive.

She succeeds Natalie Ceeney, who stepped down in November 2013 after four years in the post.

Wayman is currently the principal ombudsman and legal director and has been with the Financial Ombudsman Service since 2000. She previously worked in the insurance sector and is a barrister by training.

Sir Nicholas Montagu, chairman of the Financial Ombudsman Service, said: “Caroline defines everything that is best about the ombudsman – and she will bring freshness, bold thinking and vigorous action to our plans for the future. As chief ombudsman she will ensure the service stays relevant and attuned to the needs of our customers – consumers and businesses.

“The board and I congratulate her on her appointment and look forward to working with her, as we take the ombudsman service into the next decade.”

Wayman said: “The ombudsman has evolved beyond recognition since I first joined over a decade ago. And it will change just as much again in the future, to reflect the changing world around us.

“So I’m delighted and proud to be given the opportunity to build on the very best of what the ombudsman has always been about – and lead the service into our crucial next phase.”