Ger Deering has been named as the new Financial Services Ombudsman and will take up his appointment on April 20.

Mr Deering replaces Bill Prasifka who has held the position over the last five years.

He will take up the position when the necessary legislation is put in place.

Mr Deering has set up and led a number of public bodies and has experience in protecting consumer and employment rights. He was the first Commissioner for Taxi Regulation, where he introduced a range of reforms to the industry.

He was also the founding director of the National Employment Rights Authority.

The Financial Services Ombudsman makes sure that unresolved complaints from customers of banks and insurance companies are investigated, mediated and adjudicated fairly within a statutory framework. 

The Office can also make awards up to a limit of €250,000