The Financial Ombudsman Service has appointed Liam Coleman to be its appointed chair. Coleman will take up the role on 10 October 2025.
The FCA and the Financial Ombudsman are currently seeking to modernise the financial services redress system to help prevent delays to compensation. As part of this, the Financial Ombudsman plans to consult later this summer on different levels of case fees for financial firms, to make the system fairer and support early resolution.
Coleman has over 30 years’ experience in financial service and was formally chief executive officer of The Co-operative Bank, deputy group treasurer and group head of capital management at The Royal Bank of Scotland (RBS) and group director, treasury at Nationwide Building Society.
He currently chairs Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust, and is interim chair of Royal United Hospitals Bath NHS Foundation Trust.
Coleman will succeed Baroness Zahida Manzoor CBE, who is stepping down after two terms in the post.
Coleman will chair the Financial Ombudsman’s board until a permanent appointment is made after an initial recruitment proved unsuccessful.
Financial Conduct Authority (FCA) chair Ashley Alder said: “I am delighted that someone with Liam’s depth of experience will lead the Financial Ombudsman’s board during what is a pivotal time for the organisation.
Commenting on his appointment Coleman said: “I am honoured to take on the role of interim chair at the Financial Ombudsman Service. It plays a vital role in upholding fairness and trust in the financial system.
“I look forward to working closely with the board, executive team, and our wider stakeholders – including the Treasury and the FCA.”
