The treasury committee has now written to the FOS about her departure
The treasury committee has written to the Financial Ombudsman Service (FOS) to clarify the circumstances around the departure of Chief Ombudsman Abby Thomas.
Thomas, who was appointed to the role in October 2022, announced she was stepping down on 6 February 2025.
She said: “It has been an absolute privilege to lead the FOS through this period of rapid transformation and innovation.
“I am immensely grateful to the entire Ombudsman team for everything that they do to support our customers and build confidence in the financial services industry.”
Earlier this week (11 February 2025), members of the treasury committee raised questions about the departure during a parliamentary session.
However, the treasury committee said that MPs “were not satisfied that they received the answers to their questions on the subject”.
In a letter to the FOS, it added: “Despite extensive questioning, the circumstances surrounding Thomas’ sudden departure from the FOS did not appear to be fully shared with the committee, preventing committee members from forming a full understanding of the process and circumstances which led to Thomas’s exit and what that event might mean for the administration and operation of the FOS.”
Questions
In the letter, the committee asked for further information on the events which surrounded Thomas’ departure and the nature of the discussions as they progressed.
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MPs have also requested information on any settlement agreed with Thomas and whether senior officials had concerns regarding her performance.
The committee hopes to receive a reply by 18 February 2025.
Questions raised in the letter:
1) Has any severance or other payment been agreed to be paid to Thomas, and if so, what is the amount of that payment? If such a payment has been agreed, who in the FOS agreed to that payment? If such a payment was agreed, how much was paid for loss of office, for redundancy and for payment in lieu of notice or gardening leave?
2) Can you confirm that there is no bar on Thomas providing her view on her departure to this committee? (I note that parliamentary privilege would override any such agreement in a proceeding in Parliament.)
3) When was the board told that Thomas was departing?
4) Has the board, or any member of the board, expressed any concern about the work of Thomas?
5) Has the board, at any point, raised concern about the operation of the executive team of the FOS?
6) Has any recent policy or administrative decision caused disquiet within the board of the FOS?
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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