Marian Glen and Charles McKenna will take up their positions on 1 February and replace Ros Reston and Tony Ashford.
Ms Glen previously worked as General Counsel for Aegon UK from 2009 to 2011 and was also involved in remediation and redress work for Scottish Equitable customers.
Mr McKenna was a corporate partner at law firm Allen and Overy for 22 years, specialising in corporate transactions, financial services and regulation.
The FSA has also re-appointed current directors Alex Kuczynszi and Kate Bartlett as executive directors for a further term.
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Lawrence Churchill, FSCS Chairman, said: "I am pleased that we have been able to appoint two people of such high calibre as Marian Glen and Charles McKenna to the FSCS board. They have a wealth of experience that will benefit both consumers and the firms to whom we are accountable.
"I would also like to pay tribute to Ros Reston and Tony Ashford for their exemplary service to the FSCS during the height of the financial crisis. They brought a huge amount of experience and insight to the work of the Scheme at a pivotal point in our history."

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