Margaret Cole shot into the limelight in May 2005 when the Financial Services Authority (FSA) raided White & Case to hire the litigation partner as its new director of enforcement.

Her appointment followed a global search for a successor to Andrew Procter, who was poached by Deutsche Bank to head its compliance team. Cole beat a shortlist of 12 candidates to secure the influential role, becoming head of the FSA’s 200-strong enforcement team in July.

Cole’s hire coincided with an overhaul of the FSA’s enforcement processes, which included the recommendation of the creation of a separate legal capability to service the regulatory decisions committee. The organisation has since seen two directors of banking software company AIT convicted in the first criminal market abuse case it has taken to court.

Cole helped launch White & Case’s City litigation practice in 1995 after joining from Stephenson Harwood. Her clients included the European Bank for Reconstruction and Development, the Royal Bank of Canada and Crédit Agricole.