Cornish takes over from Nick Prettejohn and will be in the role for two years from December 1, 2009.
Cornish has been chief executive of YBS since July 2003 and has been a member of the Practitioner Panel since March 2007.
He says: “The FSA is currently under more pressure than ever. Everyone has an interest in the effective and proportionate regulation of financial services. I want to ensure that the Practitioner Panel helps the FSA to get the balance right and that it provides a constructive industry voice on the issues which are at the heart of FSA policy making.”
FSA chairman Adair Turner adds: “The Practitioner Panel provides the FSA with a senior industry sounding board which is extremely valuable in ensuring we take firms’ interests into account. I thank Nick Prettejohn for all his advice during his chairmanship and look forward to working with Iain in the future.”