The Financial Ombudsman Service (FOS) board has appointed four new ombudsmen, who bring a range of legal and financial services expertise to the organisation.
The four additions - Evelyn Halls, Nicole McCutcheon, Justi Tonti-Filippini and Michael Pearce - join the FOS decisions team and will be involved in making decisions on more complex disputes in banking, credit, investments and insurance related matters, FOS stated.
FOS chief ombudsman Shane Tregillis told InvestorDaily the new hires would give FOS greater flexibility, as well as strengthen the team. Last financial year FOS accepted 25,298 disputes and resolved 24,938 disputes, which was a 31 per cent increase from the previous year.
"We're building capacity, we've had an increase in disputes and our existing ombudsman need to take leave occasionally," Mr Tregillis said.
"I'm excited about the new appointments; I think they will complement skills we already have."
He said FOS advertised publicly late last year, which returned a strong field of candidates. "I think we've ended up with people who bring both strong legal skills, have diverse backgrounds and who will work well within the FOS context," he said.
Ms Halls will focus on investment and insurance matters and was formerly a Corporate Group partner at Herbert Smith Freehills where she was involved in advising companies, managed funds and statutory bodies on a range of transactional and corporate governance issues.
She also previously worked in the firm's revenue law group, advising on tax and stamp duty issues.
Ms McCutcheon will also focus on investments and life insurance matters and has been assisting FOS in the drafting of more complex investments, life insurance and superannuation (ILIS) determinations over the past two years.
She commenced her career at Minter Ellison and was previously litigation counsel at the Australian Securities and Investments Commission (ASIC) where she worked in enforcement from 2001 before being seconded to the Financial Services Authority in London.
Ms Tonti-Filippini will focus on banking and finance matters and has 15 years' experience in the financial services industry, having previously worked as special counsel at Ashurst, specialising in retail banking and financial services.
Ms Tonti-Filippini is the immediate past national chair of the Law Council of Australia's Financial Services Committee, where she was actively involved in credit law policy development, having served on an industry advisory group for the Commonwealth Department of Treasury, and made submissions to government on proposed reforms to credit industry regulation.
Michael Pearce SC joins FOS as sessional ombudsman, and has practised as a barrister since 1991 after being admitted to legal practice in 1982. Mr Pearce was appointed senior counsel in 2005 and has a broad practice in commercial law, including banking and finance and credit law.
