Graeme Hardie, former executive director at Abbey National, will work part time for the regulator providing advice to the FSA on UK retail banking issues.
He takes over for Naguib Kheraj, who steps down at the end of September, following his appointment to a full-time role at JP Morgan Cazenove.
Ian Marshall, a chartered accountant and former chief operating officer of Markel International will provide advice on wholesale insurance.
Hector Sants, chief executive of the FSA, says: “This is a further example of our commitment to have the right mix of people working at the FSA, combining those with regulatory experience and those with strong market backgrounds.
“I wish to thank Kheraj for all his hard work and support, particular in relation to the scoping of the Supervisory Enhancement Programme.”