Coleman appointed chair of Financial Ombudsman Service
The Financial Conduct Authority has appointed Liam Coleman as permanent chair of the Financial Ombudsman Service for a three-year term starting October 10, 2026. The appointment was made with Treasury approval following his one-year tenure as interim chair.
From interim leadership to permanent chair
The board of the Financial Conduct Authority (FCA) confirmed Liam Coleman’s appointment under statutory powers set out in the Financial Services and Markets Act 2000, following formal approval from HM Treasury.
Coleman officially assumes the permanent post on October 10, 2026, after serving as interim chair for the past twelve months.
FCA Chair Ashley Alder noted that Coleman has delivered “strong leadership and valuable insight” across his interim term, emphasizing that his background across financial institutions and regulation will support a redress system that remains fair, predictable, and effective for both consumers and firms.
Coleman previously held senior roles at Nationwide Building Society, Royal Bank of Scotland, and Cooperative Bank.
Overhauling statutory dispute mechanisms
The Financial Ombudsman Service is legally tasked with resolving disputes between financial firms and their customers, covering banking, mortgages, pensions, loans, and investments, as well as claims management companies and eligible small businesses.
The board of the service ensures operational independence and adequate resourcing.
Alongside government partners, the FCA and the ombudsman are executing a broader transformation of the UK dispute resolution framework to improve operational consistency.
Continuity over disruption
Confirming an interim leader secures managerial continuity over aggressive institutional reform.
Coleman’s extensive commercial banking background offers predictability to firms facing complex claims.
The true test remains whether the ombudsman can modernize dispute backlogs without compromising retail consumer protections.