Financial Ombudsman Chief Natalie Ceeney declared her resignation after the FOS received its one millionth PPI complaint in the last four years. Chairman of the Ombudsman Nicholas Montagu said that Deputy Chief Ombudsman Tony Boorman will be replacing Natalie Ceeney on a temporary basis.
According to the Chairman, Natalie felt that it was time to move on after the Financial Ombudsman received its millionth complaint. He said that as the FOS sets to provide solutions to new challenges, most of the solutions will be founded on the contributions of former Chief Natalie Ceeney.
Ceeney said that she had been privileged to have worked with a greatly-talented group of people in the FOS. She said that she was very proud with the service because of the great difference she and its people have contributed to society in improving the consumer confidence in the financial industry.
PPI makes up the majority of complaints the Financial Ombudsman receives on a regular basis. In 2013 alone, the FOS had received over 265,000 cases of PPI refund claim back from RBS, HSBC, Lloyds and other financial institutions.
The FOS recently said that the PPI crisis is far from ending. This is in contrast to the figures shown by the Financial Conduct Authority that show PPI complaints have dropped in number in the last few quarters of 2013.