The Money and Pensions Service (MaPS) has announced that its CEO, Caroline Siarkiewicz, will not be taking up a second term.

Siarkiewicz was appointed as CEO in January 2020 having been acting CEO since June 2019. She will step down at the end of January 2024 after four years leading the organisation through a period of significant change.

As CEO, Siarkiewicz led MaPS through the early integration of the three separate organisations Money Advice Service (MAS), The Pensions Advisory Service (TPAS) and Pension Wise.

Under her leadership, MaPS launched its new MoneyHelper consumer brand, published the first ever UK Strategy for Financial Wellbeing, expanded the reach of MoneyHelper pensions guidance and Pension Wise services and helped more people access the life-changing benefits of expert debt advice.

Sara Weller, chair of MaPS, said: “I would like to take this opportunity to thank Caroline for the commitment and leadership she has shown as chief executive. I look forward to taking forward our work together over the coming months.

“Caroline has been a big part of MaPS’ story since the beginning but MaPS is still a young organisation with a huge amount of potential, and we are now moving into the next phase building on all the hard work Caroline and her team have done over the past four years.”

Siarkiewicz added: “My time as chief executive of the Money and Pensions Service has been truly inspiring and very rewarding. I am incredibly proud of my colleagues and the passion and enthusiasm they show every day in the work we have delivered.

“It has been a huge privilege to work with so many dedicated and experienced colleagues from many organisations across the sectors and together we have made a difference to so many people’s lives.”

The search for a successor will commence shortly and will be led by Weller. The appointment will be subject to the approval of the Secretary of State for Work and Pensions.