The Ombudsman for Banking Services and Investments (OBSI) announced Monday that Doug Melville, ombudsman and CEO, will be resigning from OBSI effective May 31.

Melville has been appointed to the newly created position of principal ombudsman and chief executive for the Channel Islands Financial Ombudsman (CIFO) commencing on June 1.

OBSI says it has begun a search for a new Ombudsman and CEO, though there will be a period of transition between Melville’s departure and a new appointment.

“His contribution to OBSI’s development and evolution has been profound, and this appointment is a testament to his excellent work and professionalism as ombudsman at OBSI,” said Fernand Bélisle, chairman of OBSI’s board of directors.

Following Melville’s departure, Bélisle will oversee the management team until a replacement is selected.

Sasha Angus, chief operating officer and senior deputy ombudsman, will continue to be responsible for day-to-day operational matters including case file handling, while Tyler Fleming, director of strategy and stakeholder relations, will be responsible for ongoing engagement with stakeholders, including regulators, the financial industry, participating firms, and investor and consumer groups.

Melville is the current chairman of the International Network of Financial Services Ombudsman Schemes (INFO), the global network of such entities, and has contributed to the development of financial ombuds and other dispute-resolution schemes in various countries. In the 1990s while with the Canadian Bankers Association, Melville was responsible for the development and launch of OBSI’s predecessor organization, the Canadian Banking Ombudsman, together with the late Robert Elliott, partner at Fasken Martineau.

“I’m sorry to leave OBSI but there is a pride that comes from knowing we have passed through a difficult period together and emerged stronger and better equipped to face the future,” said Melville.

OBSI looks into complaints about most banking and investment matters. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000.