Sir John Wickerson, senior partner at Ormerod Wilkinson Marshall and former Law Society president, has been appointed chair of the board of the Investors' Compensation Scheme.
He joined the board as a director at the beginning of this month and will replace retiring chair Richard Lawson on 1 November, 1996 for a three-year term.
The Investors' Compensation Scheme was set up in 1986 by the Securities and Investment Board to award compensation to investors in failed investment firms.
There has to be negligence or fraud on the part of the firm's management and the compensation is capped at £48,000.
The Securities and Investment Board said Wickerson's duties as chair will take up two to three days a week.
Wickerson was the Law Society's youngest-ever president when elected in 1986.