Press release: Resignation of chief executive, Tony Hobman

3 July 2012

The Money Advice Service announced today that it had received the resignation of Tony Hobman, Chief Executive, at its Board meeting earlier today.

Mr Hobman commented:

“I have enjoyed my time here and am proud of the turnaround of the organisation and the imminent upgrade to the Service. It has a crucial role to play in the financial wellbeing of the country and I am pleased to have been part of it. I will leave with mixed feelings but am reassured in the knowledge that the Service employs dedicated people working very energetically and creatively to help the millions of people who fall into the advice gap every day.”

Gerard Lemos, Chairman of the Money Advice Service, said:

“I am very grateful for all that Tony has done over the past two years. He has brought the organisation through a challenging transformation period and overseen the initial and forthcoming upgrade to the Service which sets us on a path to reach over 11 million people annually in five years time. We wish him well for the future.”

The Board will conduct an immediate review of the future role and remuneration of the Chief Executive and intends to identify a successor to Mr Hobman by the autumn. Meanwhile, he will continue working during his six-month notice period.

About the Money Advice Service

The Money Advice Service is an independent organisation. It gives free, unbiased money advice across the UK – online, over the phone and face to face. Its vision is to “enhance people’s lives because they take control of their money as a matter of course”.

Originally set up by government, the Money Advice Service is paid for by a statutory levy on the financial services industry, raised through the Financial Services Authority. Its statutory objectives are to enhance the understanding and knowledge of members of the public about financial matters (including the UK financial system); and to enhance the ability of members of the public to manage their own financial affairs. The Service has an independent Chairman and board appointed by the Financial Services Authority. It was formerly the Consumer Financial Education Body.

For more information please contact Julian Eccles or Nancy Baynes at the Money Advice Service: 020 7943 0593,