Financial services ombudsman chairman appointed

15 August 2014

The creation of a financial services ombudsman for the Channel Islands has moved a step closer.

Jersey and Guernsey have jointly appointed a chairman of the Office of the Financial Services Ombudsman.

David Thomas is a lawyer and former UK banking ombudsman. He became principal ombudsman with the UK Financial Ombudsman Service, retiring in 2012, though he still advises them part-time. He is also on the board of the UK Legal Ombudsman.

Handle customer complaints

The Financial Services Ombudsman is still in the process of being set up. Once legally established and a board appointed, this new body will investigate and handle customer complaints about financial services in Jersey and the Bailiwick of Guernsey.

It will be based in Jersey with shared staff, resources and premises, and funded by the financial services industries in both islands.

Jersey’s Minister for Economic Development, Senator Alan Maclean said “David Thomas brings a wealth of experience from financial and other ombudsman schemes in the UK and worldwide which will be of great benefit to the new ombudsman service. His appointment brings the opening of the scheme another step closer.”

Underpin confidence

Guernsey’s Minister of Commerce & Employment, Kevin Stewart said “We were delighted with the quality of candidates interested in this first role of chairman. We are confident David Thomas will provide strong direction in the establishment of an effective ombudsman service for the Channel Islands.”

David Thomas said “I look forward to the creation of an effective and efficient financial ombudsman that will underpin confidence in financial services in the Channel Islands, by ensuring there is a place that can help consumers if something goes wrong.”