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The chair of the UK financial ombudsman has announced plans to step down in August only days after announcing the unexpected departure of its chief executive, adding to uncertainty over the future of the consumer-focused service.
Baroness Zahida Manzoor told parliament’s Treasury select committee that she would leave when her second three-year term ends at the start of August, adding that she would leave it to her successor to choose a replacement for Abby Thomas who quit as chief executive last week.
However, the chair of the Financial Ombudsman Service refused to provide details on the reason for Thomas’s departure. Manzoor said only that there was “a mutual agreement” on her decision to step down, despite repeated questions from MPs about what triggered this.
