The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
The appointments include former NEST chief executive Tim Jones, Emeritus Professor at the University of Bristol Elaine Kempson, and Royal Bank of Scotland (RBS) managing director of products Moray McDonald.
The SFGB - which was established by the Financial Guidance and Claims Act will launch in January and bring together the Money Advice Service, the Pensions Advisory Service and Pension Wise to provide free and impartial help on money matters including pensions.
Commenting on the appointments, minister for pensions and financial inclusion Guy Opperman said it is great news for the SFGB to have the three on board.
"They bring a wealth of skills and experience that will help the new organisation and its leadership to deliver a quality, streamlined service under one roof, giving people the guidance and support they need to make informed choices."
The appointments follow SFGB naming Sir Hector Sants as chairman, John Govett as chief executive, and Ann Harris and Mike Dailly as non-executive directors of the board.
Sants said: "I am delighted to welcome Elaine, Moray and Tim to the SFGB Board. With their appointment we have the requisite board skills and a good blend of continuity and fresh perspectives for the initial phase of setting up the new organisation."
Jones is currently global ambassador for the Tibado digital cash solution, and serves as an independent director at ITG, an institutional broker-dealer in New York. He was previously chief executive of NEST and its predecessor, the Personal Accounts Delivery Authority. Earlier in his career, Jones spent 17 years at NatWest Bank.
Kempson has nearly 30 years' experience of research and policy analysis on consumer behaviour and the provision of both government and commercial financial services. She was previously a consultant with both the World Bank and the OECD, and is currently a non-executive director of the Lending Standards Board and the Standard Life Foundation. She is also a member of the Money Advice Service Financial Capability Strategy Board.
McDonald has commercial and risk accountability for personal products across NatWest, RBS, Ulster Bank, Coutts and RBS International, as well as for Remediation and Financial Crime. He is a member of Personal and Business Banking Exco and Risk Committees and is the chair of Commercial Exco, and also represents the bank externally working with government, analysts, trade associations and consumer organisations. Prior to joining RBS, Moray McDonald spent 25 years in Banking, Finance Companies and Integration in Australia and Europe.
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