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FSA appoints non-executive directors to FSCS

The Financial Services Authority has appointed two non-executive directors to the board of the Financial Services Compensation Scheme.

Tony Ashford and Rosalind Reston will resume their positions on the board on February 1.

Ashford is currently the chairman of the HSBC pensions trust and a non-executive director of AIB (UK) and the Jubilee Sailing Trust.

He worked for HSBC from 1985 until 2005, rising to the position of general manager, personal manager and executive committee member in 2000.

He also previously worked for Thomas Cook and British Steel Corporation.

Reston was a solicitor, authorised insolvency practitioner and accredited mediator.

Until her recent retirement, when she decided to pursue a portfolio career, she was a partner at Lovells LLP, where she had worked for 21 years.

Whilst at Lovells, Reston was involved in banking, fraud and insolvency matters and acted for a wide variety of banks and other financial institutions.

She has also acted for the Viscount of the Royal Court of Jersey on English insolvencies for over 20 years.

David Hall, chairman of the FSCS board, says: I am delighted to welcome two people of such high calibre to the board.

Ashford and Reston are joining us at an important time for the scheme, and each brings a wealth of experience that will be of great benefit to FSCS and those we are here to serve.

I would also like to express my sincere appreciation to Sarah Brown who retires from the board at the end of February.

She has made an outstanding contribution to the scheme since joining us as a founder member in 2000.

Callum McCarthy, chairman, FSA, adds: “We are pleased that Ashford and Reston have been appointed to the FSCS board as non-executive directors.

They bring with them experience in their fields which will greatly benefit the FSCS.”

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