Liam Coleman confirmed as permanent chair of Financial Ombudsman Service
The FCA has approved a three-year term for the body that settles money disputes between consumers and financial firms.
New permanent chair confirmed
The Financial Conduct Authority (FCA) Board has appointed Liam Coleman as permanent chair of the Financial Ombudsman Service, with approval from the Treasury. He takes up the role on 10 October 2026 for a three-year term. Coleman has been serving as interim chair for the past year.
The Financial Ombudsman Service is the body that resolves complaints between consumers and financial firms, covering banking, insurance, loans, mortgages, pensions and investments. Since April 2019 its remit has also included complaints from larger small and medium sized businesses and about claims management companies.
Who is affected
The appointment matters to anyone who brings or may bring a complaint against a bank, insurer, lender or investment firm. The chair’s role, under the Financial Services and Markets Act 2000, is to ensure the Ombudsman is properly resourced and able to work effectively and independently of the firms it adjudicates on.
Ashley Alder, chair of the FCA, said Coleman had “brought strong leadership and valuable insight to the Financial Ombudsman Service over the past year” and that his experience “will be invaluable as we work together to support a redress system that is fair, predictable and effective for consumers and firms”.
Coleman said he was “honoured to take on the permanent role as chair of the Financial Ombudsman Service”, describing it as playing “a vital role in upholding fairness and trust in the financial system”.
Background and experience
Coleman is also group chair of London & Quadrant Housing Trust. His previous roles span financial services and the public sector, including positions at the FCA itself, an NHS Foundation Trust, Nationwide Building Society, Royal Bank of Scotland and Co-operative Bank.
Wider changes to redress
The appointment comes as the FCA and the Financial Ombudsman Service work with the government on changes to how the UK’s redress system operates. According to the FCA, the aim is to deliver a service that is “consistent, predictable and fair for both firms and consumers” going forward.
What happens next
Coleman’s permanent term begins on 10 October 2026 and runs for three years. No changes to how consumers submit or progress complaints have been announced alongside this appointment. Further detail on reforms to the redress system is expected to be set out by the FCA and the Financial Ombudsman Service as that work with government continues.