Former Allen & Overy (A&O) partner Charles McKenna and former Aegon UK general counsel Marian Glen have been unveiled as new non-executive directors on the board of the Financial Services Compensation Scheme (FSCS).
McKenna, a corporate partner at A&O for 22 years, and Glen, legal head of insurer Aegon’s UK arm from 2009 to 2011, will both take up their new roles on the FSCS board on 1 February.
McKenna left A&O in 2007. Glen, a former Linklaters financial services regulatory and investment funds lawyer, was a partner at Scottish firm Shepherd and Wedderburn from 1994 to 2008.
The FSCS, independent from but accountable to the FSA, is the last-resort compensation fund for customers of authorised financial services companies. The board is responsible for the scheme’s conduct.
Meanwhile, current directors Ros Reston and Tony Ashford are standing down from the board after a three-year term. Reston, a former legacy Lovells partner, is one of a handful of lawyers to have sat on the board. Others include Alex Kuczynski, general counsel of the organisation until two years ago.
Other senior lawyers at the FSCS include head of legal James Darbyshire, who joined the scheme from Eversheds in 2006 (31 July 2006). He headed the in-house team under Kuczynski for four years before becoming the sole legal chief when the latter moved to the role of director of corporate affairs and executive director two years ago.
Kuczynszi, who still holds the two roles, has been reappointed for a further term alongside fellow executive director Kate Bartlett, the director of operations.
FSCS chairman Lawrence Churchill said in a statement: “[Glen and McKenna] have a wealth of experience that will benefit both consumers and the firms to whom we are accountable.
“I’d also like to pay tribute to Ros Reston and Tony Ashford for their exemplary service to the FSCS during the height of the financial crisis. They brought a huge amount of experience and insight to the work of the scheme at a pivotal point in our history.”