Bill Prasifka, who is the current Chairman of the Competition Authority, has been appointed as the new Financial Services Ombudsman. He replaces Joe Meade who retired in January.

According to the Financial Services Ombudsman's website, it is expected that Mr Prasifka will take up his appointment in March/April 2010. Mr PJ Fitzpatrick will continue as Interim Financial Services Ombudsman until then.

The Financial Services Ombudsman Bureau is a statutory body set up under the terms of the Central Bank and Financial Services Authority of Ireland Act 2004 (Section 16 and schedules 6 and 7). The Financial Services Ombudsman is a statutory officer who deals independently with complaints from consumers about their individual dealings with all financial services providers that have not been resolved by the providers. The Ombudsman can make awards of up to €250,000.