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The Financial Services Authority (FSA) has raided White & Case for its new director of enforcement.
As first revealed on www. thelawyer.com (27 April), Margaret Cole, a London-based litigation partner at the US firm, is to succeed Andrew Procter, who was poached by Deutsche Bank to head its compliance team.
The appointment follows a global search led by headhunters Norman Broadbent, with the FSA targeting candidates from the US Securities and Exchange Commission and Hong Kong’s Futures Commission, as well as Australian regulators.
It is understood that Cole, who was chosen from a 12-strong shortlist, will receive a remuneration package of around £300,000, comprising a salary of approximately £240,000 plus a pension and benefits.
Cole joined White & Case from Stephenson Harwood to launch the US firm’s disputes resolution practice in 1995. Her clients include the European Bank for Recon-struction and Development, the Royal Bank of Canada and Crédit Agricole.
Commenting on the move, Alistair Graham, head of White & Case’s London dispute resolution practice, said in a pre-pared statement: “We wish Margaret every success in her move. She has been a driving force in our London dispute resolution practice since arriving to found it 10 years ago.”
Cole will be leaving White & Case on 30 June and takes up her new post in July.