Financial Ombudsman Chief Steps Down Following Regulatory Reform Push

Abby Thomas exits her role as FOS chief after government pressure to align watchdogs with pro-growth economic policies.

Abby Thomas, head of the Financial Ombudsman Service (FOS), has stepped down after serving in the role since October 2022.
Her departure follows Chancellor Rachel Reeves' calls for regulatory reforms to foster a more business-friendly environment and economic growth.
Thomas reportedly clashed with the FOS board over issues such as proposed fee structures for claims management companies, leading to her loss of confidence among directors.
The FOS has faced criticism from industry leaders for its handling of consumer complaints, particularly in relation to the motor finance mis-selling scandal that could result in billions in compensation payouts.
Interim leadership has been announced, with James Dipple-Johnstone and Jenny Simmonds temporarily filling key roles while a search for a permanent replacement is conducted.