Jeannette Lichner and Bernadette Conroy will each serve three-year terms beginning on 1 April and 1 August respectively.
Current FCA board members Amelia Fletcher and Catherine Bradley will step down following the end of their terms as non-executive directors.
Nick Stace, who was appointed in April 2017, has also stepped down from the FCA board as of 29 January.
Current FCA chief executive Andrew Bailey will stand down from the FCA board on 15 March to become the new Governor of the Bank of England.
Economic Secretary to the Treasury John Glen, said: “The work of the FCA is crucial in ensuring we continue to have a world-leading financial services sector.
“I am therefore delighted to announce the appointments of Bernadette Conroy and Jeannette Lichner to the FCA board. Their expertise and knowledge will be highly valuable to the FCA as it carries out its vital role.”
The current FCA board members are:
- Andrew Bailey – executive FCA board member and chief executive
- Catherine Bradley CBE – non-executive FCA board member
- Liam Coleman - non-executive FCA board member
- Amelia Fletcher OBE – non-executive FCA board member
- Baroness Hogg – non-executive FCA board member
- Richard Lloyd OBE – non-executive FCA board member
- Alice Maynard CBE - non-executive FCA board member
- Charles Randell CBE – Chair of the FCA
- Tommaso Valletti - non-executive FCA board member
- Sam Woods – non-executive FCA board member
- Christopher Woolard – executive FCA board member and Director of Strategy and Competition and interim Chief Executive designate.
The FCA is the conduct regulator for 59,000 financial services firms and financial markets in the UK and the prudential regulator for over 18,000 of those firms.