Interim financial watchdog chosen

THE POST of Financial Services Ombudsman is to remain vacant for at least three months after a failure to appoint a successor…

THE POST of Financial Services Ombudsman is to remain vacant for at least three months after a failure to appoint a successor to Joe Meade, who retired at the weekend.

The former chief executive of the Courts Service, PJ Fitzpatrick, was yesterday appointed to fill the position on an interim basis.

Interviews for the position are due to take place later this month, after which a permanent appointment will be made.

However, it is unlikely that the successful candidate will be able to start in the position for several months.

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Before he retired, Mr Meade criticised the Financial Services Ombudsman Council for failing to make the appointment in time.

Mr Meade said he had given the council three months’ notice of his intention to leave on his 60th birthday in January and could not understand why the position had not been filled before then.

The council has no role in the resolution of complaints about financial services, but it is responsible for appointing the ombudsman.

The chairman of the council is Dermott Jewell, chief executive of the Consumers’ Association of Ireland, who receives €24,000 for his work in the post.

Mr Jewell was on holidays yesterday and could not be reached for comment.

The number of complaints about banks and insurance companies handled by the ombudsman has soared in recent years.

Mr Meade dealt with more than 25,000 complaints since he took up the post in 2005.