The Financial Conduct Authority has appointed Liam Coleman as interim chair of the Financial Ombudsman Service, effective 10 October 2025, replacing Baroness Zahida Manzoor CBE who is stepping down after two terms. Coleman will lead the Ombudsman’s board on an interim basis until a permanent chair is appointed, after an initial recruitment campaign proved unsuccessful. The appointment is made under the Financial Services and Markets Act 2000 and is subject to approval by the Treasury, and Coleman will leave his role as a non-executive director on the FCA board to take up the post. Alongside the leadership change, the FCA and the Financial Ombudsman are seeking to modernise the financial services redress system to help prevent delays to compensation, and the Ombudsman plans to consult later in summer 2025 on introducing different levels of case fees for firms to support earlier resolution and improve fairness.
Financial Conduct Authority 2025-07-25
Financial Conduct Authority appoints Liam Coleman as interim chair of the Financial Ombudsman Service from 10 October 2025
The Financial Conduct Authority (FCA) appointed Liam Coleman as interim chair of the Financial Ombudsman Service, effective 10 October 2025, after Baroness Zahida Manzoor CBE's departure. Coleman will lead the board temporarily until a permanent chair is found, leaving his role as a non-executive director on the FCA board. Concurrently, the FCA and the Ombudsman are modernizing the financial services redress system, planning to consult on varying case fees to enhance resolution efficiency and fairness.