Briscoe was selected by a panel of representatives from the Financial Conduct Authority (FCA), HM Treasury and MAS board members on the basis of his experience in the financial services industry and various boardrooms.
He also offers complementary skills to MAS chief executive Caroline Rookes, the board said following the confirmation of his appointment at an FCA board meeting last week.
Briscoe, who is currently chairman of The Policy Shop, a general insurance intermediary, will take up the two-day-a-week role on 27 September, when the outgoing chairman Gerard Lemos stands down.
FCA chairman John Griffith-Jones said: “Andy’s significant experience in boardrooms, as well as his knowledge of the financial services made him an outstanding candidate.
“It is a great benefit to have a chair who knows how the industry works and who can lead the Money Advice Service forward as it provides advice to consumers across the UK and co-ordinates the provision of debt advice by other bodies.”
Briscoe added: “In these tough economic times, some people are facing financial problems and anxiety. So this is an important time for me to be joining the Money Advice Service as chairman.
“I am excited to have the opportunity to help consumers better understand the options available to them, and through planning their finances, to help everyone to make the most of their money.”
Briscoe previously acted as an adviser for Carlyle Group following his stint at Life Trust Holdings and his role as managing director of AA Insurance.
