John Spence, the newly-appointed non-executive director of the Money Advice Service (MAS), was in charge of managing risk at Lloyds TSB during the height of its endowment mis-selling scandal.
Lloyds was found to have sold the products inappropriately over the ten years preceding 2003.
Spence held a number of top positions at the bank during this decade.
Before becoming director of risk in 2003, Spence was director of retail distribution from 2001 to 2003.
He was director of branch networks from 2000 to 2001, and chief executive of Lloyds TSB Scotland from 1998 to 2000.
Prior to this Spence was head of business banking and then managing director of business banking at Lloyds.
MAS was criticised this week when it was revealed its chief executive was paid a salary of £250,000 whilst it made 60 members of staff redundant.
FCA does not favour active or passive investments
Three businesses merged into one
Considering a 'sunset clause' for all trail commission
Concerns of conflicts of interest
Final report of the Asset Management Market Study