FSA appoints board directors for compensation scheme

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

The new non-executive directors are Liz Barclay, a national journalist and broadcaster and ambassador for the Money Advice Trust, Jayne Nickalls, former chief executive of Directgov, and David Weymouth, former chief information officer at Barclays and currently a member of RSA’s group executive committee.

Lord Turner, chairman of the FSA, says: “We are pleased that Barclay, Nickalls and Weymouth have been appointed to the FSCS Board as non-executive directors.  

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

David Hall, chairman of the FSCS, adds: “They have outstanding experience in financial services and consumer issues that is highly relevant to our work and will help us tremendously as we continue developing the FSCS.

“They are a great addition to a team that includes significant depth and expertise. We look forward them joining us.”

The announcement comes after Sandy Kinney, Chris Woodburn and Terry Connor completed their terms on the FSCS Board.

Hall says the three played a major role in shaping the scheme and the handling of the bank failures and he is grateful to them for their contribution to financial services and the FSCS.