05May

Nausicaa Delfas will be the new interim chief executive and interim chief ombudsman of the Financial Ombudsman Service. Next month, Ms Delfas will leave the Financial Conduct Authority, where she is currently chief operating officer and head of international affairs. At the FCA, she was closely involved in the commencement of consumer credit regulation in 2014, and more recently, she has overseen the Brexit transition process.

While Ms Delfas carries out the FOS roles on an interim basis, the organisation will conduct an open recruitment process to seek a permanent chief executive and chief ombudsman.

The previous FOS chief, Caroline Wayman, stepped down a few weeks ago. Until Ms Delfas starts work at FOS in mid-May, Julia Cavanagh, FOS’s chief financial officer, will be the acting chief executive. Garry Wilkinson, whose permanent FOS role is as principal ombudsman and director of investigation, will be the acting chief ombudsman for the next few weeks.

Ms Delfas said:

“The Financial Ombudsman Service plays an essential role in ensuring the financial system works for everyone – financial services firms, consumers and businesses.

“Building on Caroline Wayman’s legacy, my priority will be to lead the Financial Ombudsman Service to ensure we deliver an effective and reliable service.”

FOS Chairman Baroness Zahida Manzoor said:

“The service enters this financial year ready to move beyond PPI and focussed on providing a timely and efficient service to our customers.

“And we do so, looking ahead, albeit cautiously, to more positive times as we emerge from a global pandemic. The board, the executive team and I are looking forward to working with Nausicaa.”

“As we welcome Nausicaa’s appointment, we say goodbye, of course, to Caroline Wayman, whose departure comes at the end of a long career at the Ombudsman Service.

“Caroline has led the service through significant milestones, most recently, of course, during a global pandemic, ensuring operational resilience and balancing the dual responsibilities of serving customers and supporting staff, during the most challenging of times.”

Stephanie Cohen will become the FCA’s new Chief Operating Officer in early June. She previously spent 14 years at asset management firm BlackRock, where she was the Global COO for the active equity businesses.

The FCA has also appointed Sacha Sadan as Director of Environment Social and Governance. He joins from Legal and General Investment Management, where he held the role of Director of Investment Stewardship, and his principal responsibilities at the FCA will include developing their sustainable finance policy.

Finally, Ian Alderton will be the FCA’s permanent Chief Information Officer and Ian Phoenix is its new Director – Intelligence and Digital. These individuals will be part of the regulator’s drive to become more data-led.