Sheila Nicoll, director of conduct policy at the UK Financial Services Authority, has decided to leave the organisation when it transitions to the Financial Conduct Authority in April.

Nicoll joined the FSA from the Investment Management Association in October 2007 and became director of conduct policy in 2009. “I have spent five challenging but fascinating years at the FSA, through what has arguably been one of the most dramatic periods of change the financial services industry has known,” she said in a statement.

“Having seen major policy initiatives such as the Retail Distribution Review through to implementation, I feel now is the right time for me to hand over to those who will drive the FCA’s policy approach in the future.”

Nicoll said she will stay with the FSA until the changeover to ensure an “orderly handover” and will then “explore fresh opportunities”.  

Meanwhile, the authority has also appointed Marian Glen and Charles McKenna as non-executive board directors of the Financial Services Compensation Scheme, with effect from 1 February.

Glen was formerly general counsel at Aegon UK from 2009 to 2011 and prior to that was a partner at Shepherd and Wedderburn between 1994 and 2008. McKenna spent 22 years as a corporate partner at Allen and Overy, specialising in corporate transactions, financial services and regulatory bodies.

Additionally, the FSA has reappointed Alex Kuczynski and Kate Bartlett as executive directors for a further term.