(3 August 2011 – Australia) A new chief ombudsman of the Financial Ombudsman Service (FOS) has been appointed to take over from September.Former commissioner at the Australian Securities and Investments Commission (ASIC) Shane Tregillis will take over after FOS chief ombudsman Colin Neave decided to depart and not seek reappointment to the position.
The FOS provides independent dispute resolution for consumers and financial service providers, such as banks and insurers.
Mr Tregillis has previously worked as deputy managing director of the Monetary Authority of Singapore and has held other senior management roles with ASIC.
‘He brings a detailed knowledge of Australia’s financial services sector at a critical time for FOS, as it responds to the demands of the post-GFC period and the consequences of extensive calls upon the general insurance industry following the severe flooding in eastern Australia earlier this year,’ FOS chairman Michael Lavarch said.