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After the sudden departure of its CEO, now Zahida Manzoor (chair of the Financial Ombudsman Service) will stand down (not seeking a third term) in August.
Following Abby Thomas' departure, this looks like the Govt. trying to shift the FOS from so active against the financial serves sector, when the latter has been caught (all too often) in malpractice.
Oddly, it looked like Manzoor bought into that agenda - perhaps Reeves' just wants a whole new team to reassure Bankers?
@ChrisMayLA6 The Financial Ombudsmans Service is of assistance to the Financial Services Sector because it provides an inexpensive forum for prompt dispute resolution. In my experience the service is not "against" the sector. That would be a construct put upon it most likely by people, like politicians, who have no hands-on current relevant experience in the sector, of dispute resolution, or of interaction with FOS. Most probably Tories, for whom every free to user public service is anathema.
Yes, the services has been by no means consumer centred in the past, but has been able to (often) be the site of good multi-party actions against wrongdoing... but as you say, even if it was better 9than it will now likely be) at hosting attempts to protect consumers' interests, at best it was neutral & at least not working against them when it arbitrated.... now, that seem likely to be less the case as Reeves puts it under pressure to prioritise 'growth' (which is a nonsense here)
@ChrisMayLA6 They don't appear to understand much these people. Stuck in a dilemma of their own making, between "no tax rises" and "growth", they now look like the Ministry of Bright Ideas - half of which aren't bright at all , but daft.They show themselves to be so suggestible, it is pitiful.