Tulsi Naidu, chief executive of Zurich in the UK, becomes chair of the FCA Practitioner Panel from 1 August.
She has been a member of the panel since 2017 and succeeds Anne Richards, chief executive of Fidelity International.
Nikhil Rathi, chief executive of London Stock Exchange plc, becomes chair of the FCA Markets Practitioner Panel from 1 July.
He has been a member of the panel since 2015 and succeeds John Trundle, chief executive of Euroclear UK & Ireland.
He is also a member of the FCA Practitioner Panel.
FCA chair, Charles Randell, said: “Both Tulsi and Nikhil have served on the panels for a number of years and are well placed to lead the panels in supporting the FCA to be a targeted and effective regulator.
“The work of the panels has never been more important, given the extent of the changes in our world, including Brexit.
“I look forward to the robust but constructive challenge they will provide, and to working with them both in their new roles.
“I would also like to thank Anne and John for their significant contribution to the work of the panels as both members and chairs.”
The FCA Practitioner Panels are independent statutory bodies that represent the interests of the financial services industry within the UK’s regulatory framework.
Panel members are recruited to represent both their own sector and the industry as a whole, rather than individual firms.