New Banking and Financial Services Ombudsman announced
Philip Field will replace Colin Neave as Banking and Financial Services Ombudsman (BFSO) within the new Financial Ombudsman Service (FOS).
The change comes after Mr Neave was promoted to Chief Ombudsman of FOS – a merger of the Insurance Ombudsman Service, the Financial Industry Complaints Service and the BFSO that comes into effect on July 1.
Mr Field, who has worked at BFSO for nearly seven years as GM Corporate and Legal Counsel, told insuranceNEWS.com.au the creation of FOS will be good for the industry, good for consumers and will improve financial dispute resolution across the financial services sector.
“It will enable us to streamline a whole range of things and make it easier for the industry and consumers to understand the processes and hopefully make it easier to navigate what has become a bit of a maze in external dispute resolution,” he said. “Fewer schemes does make it easier for everybody.”
The change comes after Mr Neave was promoted to Chief Ombudsman of FOS – a merger of the Insurance Ombudsman Service, the Financial Industry Complaints Service and the BFSO that comes into effect on July 1.
Mr Field, who has worked at BFSO for nearly seven years as GM Corporate and Legal Counsel, told insuranceNEWS.com.au the creation of FOS will be good for the industry, good for consumers and will improve financial dispute resolution across the financial services sector.
“It will enable us to streamline a whole range of things and make it easier for the industry and consumers to understand the processes and hopefully make it easier to navigate what has become a bit of a maze in external dispute resolution,” he said. “Fewer schemes does make it easier for everybody.”