New Financial Ombudsman Service names chief
Banking and Financial Services Ombudsman (BFSO) Colin Neave has been named as the Chief Ombudsman of the new Financial Ombudsman Service (FOS).
The Insurance Ombudsman Service (IOS) and the Financial Industry Complaints Service (FICS) and the BFSO will merge on July 1 to form the new body.
The appointment of Mr Neave as ombudsman supremo leaves a vacancy for the banking and financial services division, with a replacement to be named by July 1.
IOS ombudsman Sam Parrino and FICS ombudsman Alison Maynard will retain their roles after the merger. The FOS will handle up to 80% of all banking, insurance and investment disputes in Australia.
The Insurance Ombudsman Service (IOS) and the Financial Industry Complaints Service (FICS) and the BFSO will merge on July 1 to form the new body.
The appointment of Mr Neave as ombudsman supremo leaves a vacancy for the banking and financial services division, with a replacement to be named by July 1.
IOS ombudsman Sam Parrino and FICS ombudsman Alison Maynard will retain their roles after the merger. The FOS will handle up to 80% of all banking, insurance and investment disputes in Australia.