[ad_1]
The CEO of Barclays UK, Matt Hammerstein, has turn out to be the brand new chairman of the Cash and Pensions Service’s Advisory Group, taking on from Vim Maru, who steps down after two years within the function.
The Advisory Group was established in Could 2020 and ensures that MAPS – the government-backed private finance steerage physique – focuses on serving to the general public make investments and save correctly.
The group additionally offers oversight on progress in direction of the UK Technique for Monetary Wellbeing’s 10-year objectives.
The group meets quarterly and advises the MAPS govt and board on efforts to assist hundreds of thousands take advantage of their cash and pensions.
Members additionally act as ambassadors for the technique and assist with growth and sharing of excellent observe.
Sir Hector Sants, MAPS chair and a former CEO of the Monetary Providers Authority (the predecessor to the FCA), stated: “I’m delighted that Matt has agreed to chair our Advisory Group; he has been a valued member of the group because it started and his experience, data of the monetary service sector and expertise is invaluable as we navigate unsure instances for individuals’s monetary wellbeing.
“As cost-of-living pressures are affecting individuals all through the UK, it has by no means been extra necessary for us to work collectively on serving to individuals take advantage of their cash and pensions, driving progress in direction of our nationwide objectives throughout monetary training, financial savings, use of credit score, entry to debt recommendation and planning for and in later life.
“I want to take this chance to thank Vim Maru for his instrumental function within the Advisory Group – for his management, problem and help for MAPS – and want him the perfect for the long run.”
Mr Hammerstein stated: “I’ve seen first-hand how the work of the Cash and Pension Service helps individuals take advantage of their cash and pensions. The MAPS technique has much more significance now, because the UK navigates the influence of the rising value of residing on individuals’s funds.
“As chair of the MAPS Advisory Board, I look ahead to guaranteeing that the UK Monetary Wellbeing Technique is as profitable as attainable, leveraging the experience and fervour of a proficient group of skilled professionals.”
Mr Hammerstein has been a member of the Cash and Pensions Service Grownup Advisory Group since its inception and sits on the Barclays Financial institution UK board and UK Finance board. He’s a member of the FCA Practitioner Panel and has been the CEO for Barclays Financial institution UK since April 2019.
Earlier than Becoming a member of Barclays, he was a senior administration advisor at Marakon Associates the place he labored for 12 years within the monetary providers, shopper merchandise and power sectors throughout the Americas and Europe. He graduated with a level in Mechanical Engineering from Yale College and an MBA from the College of Chicago.
[ad_2]