The Financial Services Ombudsman Council is expected to appoint a replacement this week for former Financial Ombudsman Joe Meade, who retired earlier this month.

The council met last Wednesday to discuss the candidate recommended by a Public Appointment Service interview board. It is understood the council is now discussing terms with the successful candidate and will make its announcement within days. Former chief executive of the courts service PJ Fitzpatrick is serving as acting ombudsman. It is unclear whether or when the council will move to fill the two vacant deputy ombudsman positions, which have been open since former deputies Gerry Murphy and Caroline Gill retired in December.

The Financial Services Ombudsman's Bureau has handled an increasing number of complaints since its inception in 2005. Last year it saw a 43% rise in cases, according to its interim figures.