The FSA has announced the appointment of Tony Hobman as the chief executive of the newly created Consumer Financial Education Body (CFEB).

Hobman is currently chief executive of the Pensions Regulator and has held a number of senior appointments within the financial services arena. He spent 20 years with Barclays Bank, and has been chief executive of ProShare, the Money Channel plc and the Occupational Pensions Regulatory Authority.

CFEB was established by the Financial Services Act, which received Royal Assent on Friday 9 April, to enhance the public’s understanding and knowledge of financial services and their ability to mange their own money matters.

Chris Pond, currently FSA director of financial capability, will become an FSA senior adviser working with both the FSA and CFEB.

Hector Sants, FSA chief executive, said: “The creation of a separate agency emphasises the importance of financial education in improving the effectiveness of the UK’s financial market for consumers. CFEB will be able to take a leading role in improving consumer understanding of money matters and