AFCA names new chief executive

Mr Locke has formerly served as executive director of charity services at the Charity Commission of England and Wales and has held advisory roles with several international governments on the regulation of non-government organisations.

“David brings a very strong track record as an experienced senior leader involved in all aspects of establishing and operating complex legal and regulatory service-based organisations in Australia and UK," said AFCA board chair Helen Coonan.

Ms Coonan added that the appointment "comes at a critical time in the formation of AFCA as the new single complaints body for the financial sector", which will replace the Financial Ombudsman Service (FOS) on 1 November 2018, and that Mr Locke was well suited to the role.

"David has worked effectively with stakeholders across the spectrum from government, regulators, senior management in the business community as well as people with significant vulnerabilities," she said.

“He will bring energy and insight to AFCA, which is an important organisational response to restore consumer trust and confidence in financial services.”

Ms Coonan also thanked outgoing FOS chief ombudsman Shane Tregillis for his contributions to the role.

“Shane has been an outstanding leader at the Financial Ombudsman Service and has been a key driver in the success of the organisation. Shane has also played a vital role in the complex arrangements involved in the successful transition to AFCA,” Ms Coonan said.