The collapse “covered a broad range of issues and was not driven by a single event or topic”, according to a report by the Treasury select committee.This “led the board to dismiss Abby Thomas”.
The disarray at FOS came as it handles record numbers of complaints about financial products in 2024/25, which was the highest number in six years.
The peer declined to explain why Thomas had suddenly left the FOS and whether any severance package was agreed.
In a letter to MPs in February, Manzoor insisted “as a member of the House of Lords, I cannot be required either to attend before the committee, or to answer its questions”, the report said.
The Treasury select committee ordered the FOS to submit details of any severance deal or financial package and any confidentiality or non-disclosure agreement negotiated between it and Thomas.
The Treasury committee chairwoman, Dame Meg Hillier, said the FOS’s failure to block scrutiny by MP’s should send a “clear message” to others seeking to frustrate the process.
Manzoor said she was committed to providing open and transparent evidence to MPs but said there are “rare instances when that can be difficult – particularly when it relates to employment matters”.
The move came in the finance body’s submission to the government ahead of the Chancellor Rachel Reeves’ Mansion House speech this week and the Treasury’s Financial Services Growth and Competitiveness Strategy paper.
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