Former Co-operative Bank CEO steps in following unsuccessful search for permanent chair
Liam Coleman (pictured) has been appointed as interim chair of the Financial Ombudsman Service, with his term set to begin on October 10, 2025.
Coleman brings more than three decades of experience in financial services and the public sector. His previous roles include chief executive officer at The Co-operative Bank, deputy group treasurer and group head of capital management at The Royal Bank of Scotland, and group director of treasury at Nationwide Building Society.
He currently serves as chair of Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust, and is interim chair at Royal United Hospitals Bath NHS Foundation Trust.
He replaces Zahida Manzoor, who is stepping down after two terms. The Financial Ombudsman Service’s board will remain under Coleman’s leadership while the search for a permanent chair continues, following an initial recruitment process that did not result in an appointment.
“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,” said Ashley Alder, chair at the Financial Conduct Authority. “I want to thank Baroness Manzoor for all she’s done to steer an ambitious improvement programme at the Ombudsman over the last six years.”
Liam Coleman will take up the role of interim chair @financialombuds on 10 October 2025, succeeding Baroness Zahida Manzoor CBE.https://t.co/pmt9bH1yoj
— Financial Conduct Authority (@TheFCA) July 28, 2025
The Financial Ombudsman Service was established to resolve disputes between financial businesses and their customers, covering areas such as banking, insurance, fraud, payment protection insurance, loans, mortgages, pensions, and investments. Since April 2019, its remit has included complaints from larger small and medium-sized businesses and claims management companies.
“I am honoured to take on the role of interim chair at the Financial Ombudsman Service,” Coleman said on his appointment, 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.”
The FCA and the Financial Ombudsman Service are working to modernise the financial services redress system, aiming to reduce delays in compensation. As part of these efforts, the Financial Ombudsman Service plans to consult on new case fee structures for financial firms later this summer, with the goal of making the system fairer and encouraging early dispute resolution.
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