The Lending Standards Board (LSB) formally welcomes its new Chair, Ken Scott, who took up his role with effect from 1 April 2023. Mr Scott’s extensive experience will support the LSB’s mission of working to ensure fair outcomes for financial services customers.

During his executive career, Mr Scott played a key role in driving the regional growth of HSBC’s commercial bank, with a particular focus on championing customer service. He later led the subprime lending business for Citigroup across the UK and Republic of Ireland.

His other career achievements include leading a successful turnaround as Chief Executive of real estate agents Hamptons International; floating MG Capital, an early fintech player, on the Alternative Investment Market (AIM); and building listed software provider ILX Group into a leading international skills-based eLearning, classroom training and consultancy business. 

Mr Scott’s current appointments include non-executive chair of JLC Distribution, and Senior Independent Trustee at St John’s Foundation, a Bath-based charity supporting vulnerable members of the local Bath & NE Somerset community.

Mr Scott replaces Chris Pond, who has reached the end of his six-year tenure – the maximum term allowed under the LSB’s governance rules.

Emma Lovell, Chief Executive of the LSB, said: “While Chris will be a hard act to follow, we are gratified to have attracted someone of Ken’s calibre to take up the mantle. Ensuring fair outcomes for business and personal customers within financial services is a constant and ever-changing challenge.

I look forward to drawing on Ken’s counsel and expertise as we continue to help firms navigate this landscape. All that is left to do is to thank Chris – a committed and enthusiastic ambassador for the LSB who undoubtedly will be missed. And, to welcome Ken.” 

Ken Scott said: “The financial services regulatory environment is destined to continue changing and adapting. I am very excited to get going and begin contributing officially to the LSB’s vital work. I warmly thank Chris Pond for his assistance in onboarding me over the past few months.”