AFCA chair reappointed for second term
The board of the Australian Financial Complaints Authority (AFCA) has appointed Professor John Pollaers for a second term.
He was first appointed in May 2021 for three years and now serves a second term on the board until May 2027.
In a statement, the AFCA board recognised his strategic leadership over the past three years and commitment to strong governance.
“John’s strategic leadership and his commitment to strong governance has shone through over the past three years and we are delighted he will stay on as chair and continue to drive AFCA’s vision.”
During his first tenure, AFCA received over $775 million being paid in compensation to individual consumers and small business owners after complaints were resolved either by agreement between the parties or through formal decisions.
Commenting on his reappointment, Pollaers said: “I look forward to building on the incredible foundation created during the past three years to ensure AFCA delivers on its core services to the Australian community, our members and stakeholders, in particular improving our accessibility to vulnerable consumers,” he said.
“AFCA performs a critical function, working with financial firms, consumers and small businesses to resolve financial complaints, and to help firms minimise disputes. Ultimately, this supports confidence in the financial services sector.”
Last month, the organisation announced it has appointed former ASIC deputy chair Peter Kell to chair its consumer advisory panel. Kell is the second independent chair of the group since the panel’s establishment in March 2019, replacing Peter Gartlan who held the role for five years.
The role in the consumer advisory panel, which consists of 10 consumer representatives and meets quarterly, is to provide insight and analysis on strategic and policy issues as well as highlight emerging issues facing consumers.
AUTHOR
Laura Dew
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