The Pensions Regulator's (TPR) loss is the Financial Services Authority's (FSA) gain today with the appointment of Tony Hobman as chief executive of the newly created Consumer Financial Education Body (CFEB).

Hobman, who is currently chief executive of TPR, will take up the post at the CFEB which aims to enhance the public's understanding and knowledge of financial services and people's ability to manage their own money.

The national roll-out of the Money Guidance services, delivered under the Moneymadeclear brand, will fall under the responsibility to the CFEB, and the service allows people to speak to trained money guides who will assist them with money issues. The full national roll-out is expected on a face-to-face service no later than 2010.

"I am delighted that Tony is to become chief executive of the Consumer Financial Education Body at this pivotal time, as the new body is established to deliver national roll out of the Money Guidance services," commented Hector Sants, chief executive of the FSA. "The creation of a separate agency emphasises the importance of financial education in improving the effectiveness of the UK's financial market for consumers. CFEB will be able to take a leading role in improving consumer understanding of money matters and, in turn, help to improve consumer confidence in financial services."

Of his departure from TPR, Hobman said: "I am very proud to have worked with such a talented team of people in the establishment of an effective and truly risk-based regulator and I know that the organisation will continue to build on its many significant achievements in the years ahead."

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