MAS names DWP director as Hobman successor

Jenna Towler
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The Money Advice Service (MAS) has hired Caroline Rookes as its new chief executive to succeed Tony Hobman.

Rookes is currently director of private pensions at the Department for Work and Pensions (DWP) where she has overseen the introduction of automatic enrolment.

She has also been responsible for the policy, legislation and regulation of the private pension regime and for its protection framework.

Gerard Lemos, MAS chairman, said: "I am delighted that we have found someone of such calibre and experience as Caroline. She really understands people's money needs."

FCA chairman designate John Griffith-Jones added: "Caroline has highly relevant experience dealing with and understanding people's financial needs. I am sure she will help give the service a continuing strong focus on helping people to understand financial matters, thereby enhancing their ability to manage better their own affairs."

Rookes said MAS has a "vital role to play" in making the UK more financially capable.

"It has begun the groundwork for this and I look forward to helping it make an even stronger impact on people's lives and making good financial behaviour a desirable quality for all."

The appointment was made by the Financial Services Authority and approved by the Treasury, she will start in the new year.

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