The Financial Ombudsman Service (FOS) has announced plans to introduce three new executive general managers and create a senior leadership group in the coming months.

Chief Ombudsman Shane Tregillis says the changes are designed to ensure that FOS, which was created in 2008, has the structure and resources to thrive over the next phase of its development.

“We are now a larger, more complex organisation, operating in a more demanding environment,” he said. “We face the increasing volume and complexity of disputes, a growing expectation of rapid responses and volatile and changing financial markets.”

The senior leadership group will comprise the Chief Ombudsman, the three lead ombudsmen and the three new EGMs.

Mr Tregillis said the EGMs, who are yet to be appointed, are expected to begin in July or August this year. The FOS organisation will also make changes to some of its teams “to better align our structure with our goals, priorities and processes”.

FOS has also revealed a number of board appointments following the expiration of many of the founding board’s initial three-year terms.

Former Attorney-General Michael Lavarch has been reappointed as chairman for a further three-year term.

Two current consumer directors, David Coorey and Catriona Lowe, have also been reappointed for three years, while fellow consumer directors Jenni Mack and Denis Nelthorpe have been reappointed for a further two years, in order to stagger the expiration of board positions in future.

Industry director Russell McKimm has been reappointed for two years, while NAB General Counsel Product, Regulation, Resolution, Jennifer Darbyshire and Financial Services Council consultant and former AMP legal counsel Chris McRae have joined the FOS board as industry directors.

Former industry director Brendan French did not apply for re-appointment, while fellow industry director Robert Belleville’s term ends next February.