The UK's financial watchdog has made another high-level shuffle with the board appointment of Christopher Woolard.

The UK's Financial Conduct Authority has named its director of strategy and competition, Christopher Woolard, as a board member.

The appointment, made by HM Treasury, the UK tax authority, is for a three-year term starting in August.

Woolard joined the regulator in January 2013 as director of policy, risk and research, which became strategy and competition at the end of last year. He is also a non-executive member of the board of the Payment Systems Regulator and previously served as group director and content board member at Ofcom.

“Christopher has been a vital member of the FCA’s executive committee since the inception of the organisation, in particular shaping the strategy launched in December last year and our approach to competition,” said the FCA's chairman, John Griffith-Jones, in a statement.

“He will bring invaluable experience and judgement to the board from his time at the FCA, but also outside the financial sector.”

Last month, the FCA announced its chief executive, Martin Wheatley, will be standing down after the UK government called for “different leadership”. Tracey McDermott has been appointed to take over as acting CEO from September while the regulator searches for a permanent replacement.