The Pensions Regulator's executive director of auto-enrolment Charles Counsell has been appointed to chief executive of the Money Advice Service.

Counsell joined the TPR board as an executive director in 2011 and successfully set up the roll out of auto-enrolment across the UK. He was awarded an OBE this year for his work in workplace pension reform.

News of his departure from the role comes as the TPR announced today that there are now more than 500,000 employers that are compliant with their workplace pension duties.

On Counsell's departure, TPR chairman Mark Boyle said: “I want to warmly congratulate Charles on his appointment and thank him for the contribution he has made. The success of the automatic enrolment programme, so far, is in no small part due to Charles’ energy, vision and drive. He has built a team of highly talented people here at TPR who will be pushing on with this crucial work and we will announce a successor very soon. We wish Charles every success in his new role.”

Counsell's appointment was made by the Financial Conduct Authority and approved by HM Treasury.

In the new role, Counsell succeeds Caroline Rookes who announced her departure from the Money Advice Service in the Autumn. Rookes will continue as CEO until Counsell assumes the position on 5 June 2017 and will formally join the board at its meeting in June.

Announcing the appointment, Money Advice Service chair Andy Briscoe said today: “I am delighted that Charles Counsell will be joining us as CEO. I believe he is ideally qualified to continue the successful delivery of the Money Advice Service’s work across the UK, and to manage the transition to the new Single Financial Guidance Body proposed by Government.”

FCA chairman John Griffiths-Jones commented: “I look forward to working with Charles and maintaining the good relationship between the FCA and MAS whilst building on the good progress made by MAS under Caroline’s leadership.”

Counsell stated:“I have thoroughly enjoyed my time at The Pensions Regulator and I know I leave a team of people who are completely committed to making sure Automatic Enrolment remains a success story. The reason I was so keen to join TPR was to help shape and drive the roll out of AE because I am passionate about helping people have a better standard of living in their retirement."

On his new role, Counsell added:“Making sure people have easy access to the guidance they need to steer through critical financial issues is very important to the UK, and I am both honoured and excited to have the chance to build on the Money Advice Service’s work so far. My experience of guiding organisations though periods of profound change will I’m sure be invaluable as we move towards establishing the new single financial guidance body.”

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