Press Release - 22 September 2009

Financial Ombudsman to retire

Joe Meade today informed the Financial Ombudsman Services Council that with effect from 2 January 2010, his 60th birthday, he will be retiring from the position of Financial Services Ombudsman. By then he will have served over 42 years in the Irish and International public services and since May 2005 as Ireland’s first Financial Ombudsman.

Note for media
As an independent statutory office-established on 1 April 2005-the Financial Services Ombudsman ensures that unresolved complaints from customers of financial service providers are mediated, investigated and adjudicated on in an impartial and independent manner. He can in addition to rectifying matters make compensation awards up to €250,000 which are binding on both parties subject only to appeal to the High Court. Since its inception over 23,000 complaints have been received and a minimum of €55m has been refunded to consumers as a result of the Ombudsman’s work