Scott, who is currently non-executive chair of JLC Distribution, has extensive experience in financial services and the property market, having spent more than 16 years at HSBC, as well as three years as chief executive of Hamptons International.
He was also a co-founder of FundMyDeposit, a fintech aimed at connecting retail investors with first-time buyers who needed support in saving a sufficient deposit.
He will replace Chris Pond, whose six-year term as chairman will conclude next year. The LSB noted that during Pond’s stewardship it had overseen the development of the ‘Standard of Lending Practice’ for business customers, as well as the regulation dedicated to detecting, preventing and responding to authorised push payment scams.
Pond said that Scott’s “deep sector and commercial experience” made him well-suited for the role of chair.
Scott added: “The LSB has a vital remit: to drive fair outcomes for personal and business customers within financial services, through oversight of the standards and codes that it administers.
“I am really looking forward to working alongside this passionate and knowledgeable team, as we continue to evolve alongside the banking, lending, and payment sectors.”
