Retired Thespian appearing as Shylock (7)
I believe the answer is:
exactor
'shylock' is the definition.
(I've seen this before)
'retired thespian' is the wordplay.
'retired' becomes 'ex' (prefix meaning former or onetime).
'thespian' becomes 'actor' (synonyms).
'ex'+'actor'='EXACTOR'
'appearing as' is the link.
(Other definitions for exactor that I've seen before include "Person squeezing" , "Core tax (anag.)" , "Extortioner" , "He demands payment" , "Blackmailer" .)