After 22 years, including about seven at the helm, Caroline Wayman is leaving the Financial Ombudsman Service (FOS).
“After nearly seven years as chief ombudsman and chief executive,” Wayman told ombudsman service staff, “I have decided that the time is right for me to step down from the role. It’s been an honour and a privilege to have led the service throughout this time.”
According to the announcement by the FOS, Wayman’s exit takes effect on April 16.
The CEO went on to state: “The service has reached a pivotal point; in 2021 we expect to receive our final PPI (payment protection insurance) cases and as nations, organisations, and individuals, we are contemplating a landscape shaped and forever changed by a global pandemic.
“It’s against this backdrop that the service is embarking on the next phase of its journey, and it’s time for me to do the same.”
The outgoing chief ombudsman also wished the FOS’s board and executive team, as well as her still unnamed replacement, “the very best”.
Baroness Zahida Manzoor CBE, chair of the FOS, said an open process for recruiting Wayman’s successor will begin shortly.
“Caroline’s departure comes at the end of a long career, during which time she’s played a key role in significant milestones in the service’s history,” noted Baroness Manzoor, who thanked and wished Wayman success on behalf of the service.
“Most recently, Caroline has, of course, been steering the service through its response to COVID-19, ensuring operational resilience and balancing the dual responsibilities of serving customers and supporting staff, during these most challenging of times.”