FCA director of supervision Clive Adamson and director of communications Zitah McMillan are to leave the regulator as part of a restructure.
In an announcement today, the FCA says director of authorisations Victoria Raffe is also stepping down.
The FCA is bringing together its authorisations and supervision divisions.
From April 2015, it will create two new divisions which the regulator says will create a clearer distinction between its regulation of large and smaller firms.
Director of enforcement and financial crime Tracey McDermott will take responsibility for managing the transition and will lead one of the new divisions.
The FCA will also establish a new strategy and competition division led by director of policy, risk and research Christopher Woolard, which it says will “build on our competition capabilities”.
It will create a new risk division, and a market oversight division, which will combine the current UK Listing Authority and market monitoring functions and be led on an acting basis by UKLA head Marc Teasdale.
The changes will commence from 5 January and be fully in place by April.
The FCA says Adamson and McMillan’s departures are not related to its closed book review.
The report on the FCA’s handling of a media briefing in March on its review of insurers’ closed book policies, which caused insurers’ share prices to tumble, is expected later this week.
Adamson says: “We have made real progress and have much to be proud of in our supervision work since the FCA was set up 18 months ago. The changes announced today are an important step in the FCA’s development and in particular will lead to a sharper focus in our work.
“I have been considering for some time when I should embark on the next phase of my career, and feel the time is now right to hand over to others to continue the important work of the FCA and to seek new challenges.”
FCA chief executive Martin Wheatley says: “Clive is a respected figure in financial services and I know that his many friends here at the FCA and across the industry will join me in thanking him for all that he has done for the industry over the years.”
McMillan says: “The three years I have spent at the FSA and FCA have been professionally very rewarding. The transformation was challenging but I’m proud of what we have achieved.
“The next phase for the FCA will, I hope, be even more successful and, whilst I am handing the baton on, I look forward to seeing Martin, ExCo and the organisation go from strength to strength in the future.”
Raffe says: “It is with a mixture of excitement and sadness that I have decided now is the right time for me personally to take all of my experience in order to work with multiple organisations in a non-executive capacity.”