The Financial Conduct Authority (FCA) has appointed a new chief executive for the Money Advice Service (MAS).
Charles Counsell will take over the role from Caroline Rookes, who steps down this summer after the appointment was approved by the Treasury.
Rookes announced her plans to retire in November last year, saying it was the right time to leave now the government was re-thinking its plans for money guidance services. She will continue to act as chief executive until June 5 when Counsell joins the board, to ensure a smooth transaction.
Counsell is currently executive director and board member at the Pensions Regulator where he helped introduce the automatic enrolment into workplace pensions.
As part of the 2017 new year’s honours, he was awarded an OBE for his services to the workplace pension reform.
Andy Briscoe, chair of MAS, said: “I am delighted that Charles Counsell will be joining us as chief executive. I believe he is ideally qualified to continue the successful delivery of the Money Advice Service’s work across the UK, and to manage the transition to the new Single Financial Guidance Body proposed by government.”
He said Counsell is passionate about tackling financial capability and understands the challenges surrounding crisis debt advice.
Counsell said: “Making sure people have easy access to the guidance they need to steer through critical financial issues is very important to the UK.”