The FCA has appointed former Work and Pensions Minister Chris Pond as chair of its Financial Services Consumer Panel.

He took up his role today, replacing Helen Charlton who had led the independent panel for three years.

The chair leads the panel in providing advice and representing the interests of consumers to help the regulator deliver our strategic priorities.

Current members of the Panel have experience of consumer advice, campaigning, communications, market research, journalism, the law, financial services industry, financial inclusion, European issues, financial regulation and compliance and later life issues.

Ashley Alder, chair of the FCA said: “The Financial Services Consumer Panel plays a vital role in bringing the consumer viewpoint into our decisions, particularly as we advance our new five-year strategy to build trust, drive innovation, and support consumers in managing their financial lives.

“I would like to thank Helen Charlton for her fantastic leadership of the panel since 2022 and extend a warm welcome to Chis Pond as her successor.”

Chris Pond said: “I’m excited to join the panel at a pivotal time, helping balance consumer protection with the responsible risk-taking needed for economic growth and improved living standards.

“I look forward to ensuring that consumer voices remain central to building trust in our financial systems.”

Chris Pond, 72, has worked on consumer and social justice issues for many years, having been CEO of two national charities and a trustee of many others. He has served on numerous public bodies, including those reporting to the Department of Health, HMRC and the Treasury, and has been awarded honorary visiting professorships at two universities. 

Mr Pond served as a Labour MP between 1997 and 2005 and was Work and Pensions Minister between 2003 and 2005. After leaving the House of Commons he took over as CEO of Gingerbread: the National Council for One Parent Families and then as director of financial capability with the Financial Services Authority.

He currently chairs TrustMark, the advisory board for the Money and Mental Health Policy Institute and an asbestos-compensation scheme (Cape Claims Services Ltd). He is an independent director with MOSL, the market operator for business water services.

As part of his new role, he is stepping down as chair of the independent Financial Inclusion Commission and from advisory roles with Fairer Finance and the Equity Release Council.