A panel of representatives from the Financial Conduct Authority, HM Treasury and Money Advice Service chose Mr Briscoe based on his boardroom experience and 27 years in financial services.
Mr Briscoe will take up the two-day-a-week role on 27 September when Mr Lemos will step down after a three-year term.
He is currently chairman of insurance intermediary The Policy Shop and was previously chief executive of Life Trust Holdings.
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John Griffith-Jones, FCA chairman, said: "Andy's significant experience in boardrooms, as well as his knowledge of the financial services made him an outstanding candidate. It is a great benefit to have a chair who knows how the industry works and who can lead the Money Advice Service forward as it provides advice to consumers across the UK and co-ordinates the provision of debt advice by other bodies."
Mr Briscoe said: "In these tough economic times, some people are facing financial problems and anxiety. So this is an important time for me to be joining the Money Advice Service as chairman. I am excited to have the opportunity to help consumers better understand the options available to them, and through planning their finances, to help everyone to make the most of their money."

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