Jeannette Lichner and Bernadette Conroy will each serve three-year terms as non-executive directors on the board of the UK's Financial Conduct Authority, beginning on 1st April and 1st August respectively.

HM Treasury has made the appointments. The pair will not have any opportunity to serve alongside outgoing CEO Andrew Bailey, who will leave to become the Governor of the Bank of England - an appointment that is not without controversy - on 15 March. They will replace Amelia Fletcher OBE (who will also step down as a NED of the Payment Systems Regulator) and Catherine Bradley CBE.

Bernadette Conroy has been a senior manager and a NED in both the public and private sectors, including financial services. Jeannette Lichner has a background in international financial services and has held senior leadership roles in a number of major financial organisations. She is a NED at Miller Insurance Services.

The Financial Conduct Authority regulates the conduct of 59,000 financial firms and financial markets in the UK and is the prudential regulator for 18,000 of them.

The membership of the FCA's board, as of today, is as follows.

• Andrew Bailey, the CEO;
• Catherine Bradley, a NED;
• Liam Coleman, a NED;
• Amelia Fletcher, a NED;
• Baroness Hogg, a NED;
• Richard Lloyd, a NED;
• Alice Maynard, a NED;
• Charles Randell, the chairman;
• Tommaso Valletti, a NED;
• Sam Woods, a NED; and
• Christopher Woolard, the soon-to-be stopgap CEO who will search for Bailey's successor.