The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has announced Baroness Tyler of Enfield as its new President. Baroness Tyler takes over the role from Baroness Coussins who will remain involved with the charity as an Ambassador. Otto Thoresen, author of the ‘Thoresen Review’ into financial advice that led to the establishment of the Money Advice Service (now the Money and Pensions Service), joins as an Ambassador.

Baroness Tyler is a life peer in the House of Lords and chaired the Lords Financial Exclusion Select Committee.  A former chief executive of the charity Relate and chair of CAFCASS, she is currently Liberal Democrat spokesperson for mental health in the House of Lords, serves on the Lords Select Committee on Public Services, co-chairs the All Party Parliamentary Group (APPG) on Social Mobility and the All Party Group on Children, is Vice Chair of the APPGs on Mental Health and on Wellbeing Economics and is a Board Member of Social Work England.

Otto Thoresen joins the Trust as one of its ambassadors, bringing with him a wealth of experience from across the public and private sectors. In 2008 he authored the ‘Thoresen Review’ of generic financial advice that helped lead to the creation of the Money Advice Service. He is a former Chair of the Personal Finance Education Group and a former Trustee of StepChange Debt Charity. He now has a portfolio career including as Chair of NEST, Aviva International Insurance, Aberdeen Standard Investments Life and Pensions and the BT Pension Scheme.

The impact of the charity’s work helping people in debt was recognised earlier this month with the Money Advice Trust named ‘Debt advice provider of the year’ at the Credit Awards.

Adam Sharples CB, Chair of the Money Advice Trust, said “I am delighted to welcome Baroness Tyler and Otto Thoresen to the Money Advice Trust. With our services needed more than ever as a result of the Coronavirus outbreak, I am pleased to welcome two individuals who bring with them such a wealth of knowledge and expertise. Their experience will be of great benefit to our work helping people to tackle their debts and manage their money with confidence.’

“I would also like to thank Baroness Coussins for her invaluable work in support of the Trust during the nine years she has served as President.  We are grateful for her enormous contribution, which we know will continue in her new role as an Ambassador for the charity.”