The Financial Services Compensation Services Scheme (FSCS) has appointed Jenny Watson and Richard Harvey as non-executive directors to the FSCS board, taking-up their roles from 1 March.
The pair has experience in financial services and board positions, including roles with regulatory bodies and consumer finance organisations, with their appointments made by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Watson has been a non-executive director at the Financial Ombudsman Service and is also a past chairwoman of both the Electoral Commission and the Equal Opportunities Commission.
She is currently the senior independent director at the Reclaim Fund, the chairwoman of both Broadland Housing Association and GAMSTOP Group and is a trustee of the Norfolk Community Foundation.
Watson was awarded a CBE in the Queen’s Birthday Honours List of 2017.
Harvey has had a 35-year retail banking career, having held senior executive positions at HSBC, GE Money and Barclays. He has broad risk committee and board experience in the UK and internationally.
He worked most recently at HSBC, as the global head of retail banking products, where he also led major analytics and digital transformation programmes.
He is a non-executive director of the Money and Pension Service, where he currently sits on the audit and devolved nations committees and is also a trustee of a local Citizens Advice.
Elizabeth Passey, chairwoman of the FSCS, said: “Both Jenny and Richard will bring valuable experience to the FSCS board, adding further strength to a diverse and experienced group as we support the executive team in shaping FSCS’s future strategic direction.”
Watson said: “The FSCS provides a vital service to consumers, underpinning their trust and confidence in financial services. I am really pleased to be joining the FSCS board and look forward to supporting the team in providing an efficient and effective compensation scheme.”
Harvey added: “I am delighted to be joining the FSCS board. The scheme plays such an important role in providing assurance to consumers and contributing to the stability of UK financial services and I look forward to working with the team to support that purpose.”
