The Financial Services Authority (FSA) has appointed Liz Barclay, Jayne Nickalls and David Weymouth as non-executive directors to the board of the Financial Services Compensation Scheme (FSCS).
The appointments bring a wealth of financial services and consumer experience to the compensation scheme at a crucial time in its development. It has paid out more than £23bn in compensation since it was set up in 2001.
Liz Barclay is a high profile national journalist and broadcaster with extensive experience of consumer issues relating to money and finance. She has a strong interest in financial inclusion gained during more than 25 years of covering money and consumer issues. Her experience includes working for the Independent on Sunday, the BBC and Citizens Advice. She is an ambassador for the Money Advice Trust.
Jayne Nickalls has a strong track record of using information technology to deliver services to consumers during a career spanning almost 30 years in the private and public sectors. She was Chief Executive of Directgov for more than five years during which time visits to the site increased to some 30m a month. Previously, she was Vice President of Consulting (Northern Europe) with Chordiant Software.
David Weymouth has had a wide career spanning working in operations, technology and risk management in a range of high profile organisations that include RSA and Barclays. He was Chief Information Officer for the bank. Mr Weymouth has a strong track record of delivering IT enabled change programmes and is currently a member of the Group Executive Committee at RSA.
Lord Turner, the FSA's chairman, said:
"We are pleased that Liz Barclay, Jayne Nickalls and David 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, said:
"I am pleased to welcome Liz, Jayne and David to the Board of the Financial Services Compensation Scheme. 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.
David Hall said the three played a major role in shaping the scheme and the handling of the bank failures. "Sandy, Chris and Terry were at the heart of developing the FSCS and driving it forward in difficult circumstances. They played a strong and positive role in our responses to the bank failures. We are grateful to them for their outstanding contribution to financial services and the FSCS."
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