Money Advice Trust welcomes two new Trustees
We are delighted to announce two new Trustees to our Board: Tom Reddy and Penny Clarke. Tom and Penny join us at a crucial time, bringing significant experience from the financial services and telecoms sectors.
Posted October 20, 2025
We are delighted to announce two new Trustees to our Board: Tom Reddy and Penny Clarke. Tom and Penny join us at a crucial time, bringing significant experience from the financial services and telecoms sectors.
Following a record year for us in 2024 where we helped more people with free debt advice than ever before, we are developing a new strategy focusing on supporting even more people who are struggling with debt, while also working to prevent financial difficulty occurring in the first place.
Tom Reddy brings a wealth of experience from the banking sector, and will chair the our Finance, Audit and Risk Committee. He currently leads NatWest’s commercial recoveries unit, having worked there since 2004 in roles spanning corporate and commercial lending. Tom was previously a Trustee of Crohn’s & Colitis UK from 2016 to 2025, including a period as vice chair.
Commenting on his appointment, Tom said:
“I’m delighted to be joining the Board of the Money Advice Trust. The charity’s mission to help remove problem debt from people’s lives is one I feel deeply passionate about. I look forward to contributing my experience to support this vital work.”
Penny Clarke currently leads transformation in fraud, credit risk, collections and operational compliance at Virgin Media O2 and has over two decades of leadership experience across the telecoms and financial services sectors. Penny is known for her data-led, inclusive approach to delivering sustainable outcomes in complex, regulated environments.
Penny said:
“It’s a privilege to join the Money Advice Trust as a Trustee. I’m passionate about creating fair and inclusive financial systems, and I’m excited to support the charity’s work in helping people navigate financial difficulty and build resilience. Together, we can make a real difference in tackling the root causes of problem debt.”
Christine Farnish CBE, Chair of the Money Advice Trust, welcomed the new appointments:
“We are thrilled to welcome Tom and Penny to our Board of Trustees. Their combined expertise in financial services, governance and operational transformation will be invaluable as we continue our work to support even more people and help stop financial difficulty from occurring in the first place. Their commitment to our mission and values is clear, and I look forward to working with them both.”
The appointments come at a time when we are intensifying our efforts to support people in financial difficulty. Recent data shows that 43% of people who contact our National Debtline service had a negative budget, meaning their income was not enough to cover essential living costs. Energy and council tax arrears are now the second and third most common types of debt among those seeking help from the charity.
As the high cost-of-living situation continues to impact households across the UK, we remain committed to working with partners and policymakers to improve the country’s approach to debt prevention and provide sustainable routes out of financial difficulty.
