Former FSA conduct chief joins PwC as general counsel

The former managing director of the FSA’s conduct business unit Margaret Cole has been appointed general counsel of PricewaterhouseCoopers (PwC) UK.

Margaret Cole
Margaret Cole

Cole will become a member of PwC UK’s executive board with responsibility for the office of general counsel. She will join the firm in autumn 2012 after a period of gardening leave from the FSA and will replace incumbent general counsel Owen Jonathan, who retires in December 2012.

The FSA announced that Cole was leaving in February (15 February 2012) ahead of a shake-up that will see the regulator split into two divisions under its ‘twin peaks’ initiative.

In a statement, PwC chairman and senior partner Ian Powell said: “The complexity of current and proposed legislation affecting PwC and our clients requires a general counsel with extensive experience, expertise and judgement.

“Margaret has demonstrated these qualities in her career to date in public and private practice, and at the most senior level at the heart of financial services regulation. Margaret will bring a new perspective to the firm and will make a significant contribution to our network.

“I’d also like to place on record my thanks for the great contribution Owen Jonathan has made to the firm over the last decade.  I’m personally immensely grateful to him for his support.”

Cole joined the FSA in July 2005 from White & Case, having spent 20 years in private practice as a commercial litigator. She was appointed to the FSA board as managing director of enforcement and financial crime in September 2010. In April 2011, she became managing partner of the conduct business unit.