Matt Hammerstein, CEO Barclays UK, is now Chair of the Money and Pensions Service’s Advisory Group, effective from 1 July 2022, taking over from Vim Maru, who steps down after more than two years in the role.
The Advisory Group, established in May 2020, helps ensure that MaPS delivers on its vision of everyone making the most of their money and pensions, and provides input, oversight and ongoing challenge on progress towards the UK Strategy for Financial Wellbeing’s ten-year goals.
The group meets quarterly to advise and assist the MaPS Executive and Board in delivering its vision of everyone making the most of their money and pensions. Members also act as ambassadors for the Strategy, and for the development and sharing of good practice.
Sir Hector Sants, Chair of the Money and Pensions Service, said:
“I am delighted that Matt has agreed to chair our Advisory Group; he has been a valued member of the Group since it began, and his expertise, knowledge of the financial service sector and experience is invaluable as we navigate uncertain times for people’s financial wellbeing. As cost-of-living pressures are affecting people throughout the UK, it has never been more important for us to work together on helping people make the most of their money and pensions, driving progress towards our national goals across financial education, savings, use of credit, access to debt advice and planning for and in later life.
“I would like to take this opportunity to thank Vim Maru for his instrumental role in the Advisory Group – for his leadership, challenge and support for MaPS – and wish him the very best for the future.”
Matt Hammerstein, CEO Barclays UK and incoming Chair of the MaPS Advisory Group, said:
“I’ve seen first-hand how the work of the Money and Pension Service is helping people make the most of their money and pensions. The MaPS strategy has even more importance now, as the UK navigates the impact of the rising cost of living on people’s finances. As Chair of the MaPS Advisory Board, I look forward to ensuring that the UK Financial Wellbeing Strategy is as successful as possible, leveraging the expertise and passion of a talented group of experienced professionals.”
BIOGRAPHY – Matt Hammerstein
Matt Hammerstein has been a member of the Money and Pensions Service Adult Advisory Group since its inception and sits on the Barclays Bank UK Board and UK Finance Board. Matt is also a member of the FCA Practitioner Panel.
Matt has been the CEO for Barclays Bank UK since April 2019, covering Retail Banking, Investments and Wealth UK, Business Banking and Barclaycard UK.
Prior to becoming CEO, Matt was Head of Retail Lending covering both the secured and unsecured lending businesses. Matt joined Barclays in 2004 as Director of Group Strategy, later progressing to become the Group Chief of Staff. Matt went on to manage Barclays Group Corporate Strategy and Corporate Relations, Barclays Customer and Client Experience in Retail and Business Banking and Barclays UK Retail Products and Segments.
Before Joining Barclays, Matt was a Senior Management Consultant at Marakon Associates where he worked for 12 years in the financial services, consumer products and energy sectors within the Americas and Europe.
Matt graduated with a degree in Mechanical Engineering from Yale University, and an MBA from the University of Chicago.
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Notes to editors
Membership of the MaPS Advisory Group
- Phil Andrew, Chief Executive Officer of StepChange Debt Charity
- Richard Collier-Keywood, Chair of Fair4All Finance and the School for Social Entrepreneurs
- Helen Dean, CEO of NEST Corporation
- Joanna Elson CBE, Chief Executive of the Money Advice Trust
- Debbie Forster MBE, CEO of Tech Talent Charter
- Professor David Halpern, Chief Executive of The Behavioural Insights Team
- Matt Hammerstein, CEO of Barclays Bank UK
- Anabel Hoult, CEO of Which?
- Helen Milner OBE, Group Chief Executive, Good Things Foundation
- Dame Clare Moriarty, CEO of Citizens Advice
- Katie Murray, Group Chief Financial Officer of NatWest Group
- Helen Undy, Chief Executive, Money and Mental Health Policy Institute
About the Money and Pensions Service
The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through MoneyHelper, which recently brought together legacy services the Money Advice Service, The Pensions Advisory Service and Pension Wise.
MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing.
MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP).