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April 15, 2010    

Tony Hobman to be CEO of CFEB

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by Kay Murchie

Tony Hobman has been appointed by the Financial Services Authority (FSA) to run the newly created Consumer Financial Education Body (CFEB).

The CFEB is aimed at enhancing consumers’ financial education and their ability to manage their finances.

The newly-established CFEB comes at a time when the Government is concerned that a lack of financial knowledge means that consumers are not taking advantage of savings and pensions products.

The body will work with school children, employees, students, those approaching retirement and the unemployed.

Meanwhile, Tony Hobman, who is currently chief executive of the Pensions Regulator, has held many senior appointments within the financial services area.

He spent two decades with Barclays Bank, and was the CEO of ProShare, the Money Channel plc and the Occupational Pensions Regulatory Authority.

Commenting on the appointment, Hector Sants, FSA chief executive, said: “I am delighted that Tony is to become chief executive of the Consumer Financial Education Body at this pivotal time, as the new body is established to deliver national roll out of the Money Guidance service.

“The creation of a separate agency emphasises the importance of financial education in improving the effectiveness of the UK’s financial market for consumers. CFEB will be able to take a leading role in improving consumer understanding of money matters and, in turn, help to improve consumer confidence in financial services.”

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