Press release
Minister Donohoe appoints Financial Services and Pensions Ombudsman
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Published on
Last updated on
The Minister for Finance Paschal Donohoe has today (5 September 2022) announced the appointment of Mr Liam Sloyan as the Financial Services and Pensions Ombudsman for a 5-year term. This appointment is effective from 1 December 2022.
The Financial Services and Pensions Ombudsman is an independent, impartial, fair and free service that helps resolve complaints from consumers, including small businesses and other organisations, against financial service providers and pension providers.
Minister Donohoe has chosen Mr Sloyan, in consultation with the Minister for Social Protection, for the role following an open recruitment process which was managed by the Public Appointments Service.
Mr Sloyan has considerable experience in consumer protection and financial services, and has led a number of public bodies such as the Health Insurance Authority, the National Treatment Purchase Fund, and as Regulator of the National Lottery.
The appointment of Mr Sloyan is as a result of the appointment of the former Financial Services and Pensions Ombudsman, Mr Ger Deering, as the Ombudsman and Information Commissioner in February 2022.
Mr Deering was appointed as Financial Services Ombudsman in April 2015 and subsequently, as Pensions Ombudsman in May 2016. He led the establishment of the Office of the Financial Services and Pensions Ombudsman (FSPO), in January 2018, following the amalgamation of the Financial Services Ombudsman Bureau and the Office of the Pensions Ombudsman.
Commenting on the appointment of Mr Sloyan, Minister Donohoe said:
“I welcome the appointment of Liam Sloyan as the Financial Services and Pensions Ombudsman following a competitive process.
"Liam’s broad and detailed knowledge of financial services and consumer protection, in addition to his experience of leading and establishing public service organisations, make him an ideal candidate for this role.
"I look forward to the significant contributions that Liam will make as he builds upon the considerable work done by his predecessor.
"I would also like to thank MaryRose McGovern for her support and her hard work in running the FSPO as Acting Ombudsman since February.”
Maeve Dineen, Chair of the Financial Services and Pensions Ombudsman Council, said:
“I would like to congratulate Liam Sloyan on his appointment.
"Liam has had a distinguished track record throughout his career, and my fellow Council members and I are keen to begin working with him to deliver upon the objectives of the Office of the Financial Services and Pensions Ombudsman.
"I would also like to echo the Minister’s comments related to MaryRose and to also thank her for her work in leading the organisation since the resignation of the previous Ombudsman.”
In 2017, the government decided to merge the offices of the Financial Services Ombudsman Bureau and the Office of the Pensions Ombudsman to form the FSPO.
The FSPO was established by the Financial Services and Pensions Ombudsman Act 2017 and opened for business on 1 January 2018.
The FSPO is funded by levies on financial services providers and by a grant from the government.
The Financial Services and Pensions Ombudsman is an independent, impartial, fair and free service that helps resolve complaints from consumers, including small businesses and other organisations, against financial service providers and pension providers.
The FSPO's second Strategic Plan, 'Connecting and Innovating', covers the period 2021 – 2024.
This Strategic Plan builds on the FSPO's delivery in its first three years of operation, during which time, the FSPO concluded more than 15,200 complaints. The priorities outlined in the Strategic Plan reflect both the FSPO's statutory role and the organisation's values and reflect the FSPO's ambition to evolve and innovate its services and focus on its customers, external stakeholders, and audiences.
The Strategic Plan sets out the following strategic priorities:
Section 8 of the Financial Services and Pensions Ombudsman Act 2017 sets out the appointment process for the role. The Minister for Finance, in consultation with the Minister for Social Protection, chose a candidate for the role following an open recruitment process which was managed by the Public Appointments Service. This appointment process was also conducted in line with the Guidelines for Appointments of CEOs of Non-Commercial State Bodies.