The fund manager’s executive vice-chairman said the role had been created for Ms Nicoll, one of the architects of RDR, to “enhance Schroders’ engagement with regulatory change globally to promote the best outcome for clients and the firm”.
Ms Nicoll was previously senior adviser at professional services group Ernst & Young focusing on the asset management sector. She was also director of conduct policy at the FSA between 2009 and 2013, having joined the regulator as director of retail firms division in 2007.
Mr Tosato said: “Schroders has been a long-term supporter of meaningful regulation, acknowledging the role it plays in improving trust, protecting the customer and enhancing market stability.
“The pragmatic approach Ms Nicoll has adopted throughout her career will be invaluable in helping us contribute more actively to the significant changes the industry will face in the coming years.”
In September 2012, former FSA director of enforcement Margaret Cole joined PwC as a partner to take over the role of general counsel on the executive board.
In January 2013 former FSA chief executive Hector Sants joined Barclays but resigned in November the same year following a month off with stress.
Filip Slipaczek, a chartered financial planner based in North London, said: “I would prefer to see people leaving investment houses and taking up employment with the regulator, which would give the FCA a greater in-depth perspective on how the industry works.”