Ian Powell Chairman and Senior Partner, joined the UK firm's Executive Board in 2006 and he was elected Chairman and Senior Partner in 2008. He joined the UK firm as a graduate trainee in 1977 and is a qualified chartered accountant (ICAEW). After becoming a partner in 1991, he worked in Manchester building a team which established a reputation for complex turnarounds. After the merger in 1998 he developed the Continental European BRS Advisory practice and in 2000 was responsible for the UK BRS business.
Gaenor Bagley, Head of People, graduated from Cambridge University with a Mathematics and Management degree. She trained in audit and spent three years in an investment bank corporate finance team. In 1992 she joined the tax practice where she has continued to work in M&A specialising in Private Equity as a partner.
James Chalmers, Head of Assurance, graduated from Oxford University with an Engineering degree and he joined the firm in 1985. He became a partner in 1997. Before joining the Executive Board in 2008 as Head of Strategy and Talent, he was a member of the Assurance leadership team. During his time in Assurance he has worked with multinational clients and has been on long-term secondments to clients in the banking and healthcare sectors.
John Dwyer, Head of Deals. John graduated from University College Dublin with a Commerce Degree. He has worked in most of the businesses under the Deals umbrella including Business Recovery and Corporate Finance. John ran the UK TS business between 2007 and 2011. He is Global Deals Leader and Private Equity Leader.
Kevin Ellis, Managing Partner, graduated in Industrial Economics from Nottingham University, joined the firm in 1984 and he became a partner in 1996. Before he joined the Executive Board in 2008 he headed up our Business Recovery Services.
Stephanie Hyde, Head of Regions, graduated from Brunel University with a Mathematics and Management degree. She joined the firm in1995 and became a partner in 2006. Before joining the Executive Board in 2011 she led our Assurance practice in Reading. She has also led our mid-cap segment in the South East.
Margaret Cole, General Counsel, joined the FSA in July 2005 as Director of Enforcement. She is a graduate in Law from New Hall, Cambridge and is a solicitor with over 20 years' experience in private practice, specialising in commercial litigation with an emphasis on financial services. She is also qualified as a Mediator with CEDR and the ADR Group. From 1990 to 1995 Margaret was a Partner with Stephenson Harwood, where she was responsible for the recovery actions in relation to the Maxwell Pension Funds on behalf of the Pension Funds Trustee. In 1995 she joined the London Office of international law firm White & Case to found and head its Dispute Resolution Department. In 2009 Margaret took over responsibility for the FSA's Financial Crime Division which merged with the Enforcement Division. In 2010 she joined the FSA's Board as Managing Director, Enforcement and Financial Crime. In April 2011 she assumed Interim responsibility for the new Conduct Business Unit which formed the core of the new Financial Conduct Authority. Until 2011 she also served as a Non Executive Director of the National Skills Academy Financial Services. Margaret joined PwC as a partner in September 2012 to take over the role of General Counsel on the Executive Board.
Kevin Nicholson, Head of Tax, graduated from Newcastle Polytechnic with a degree in English and History. He joined the firm in 1991 and became a partner in 2000. He has spent time in the North East, New York and Hong Kong. He joined the Executive Board in 2008 as Head of Regions. And before that he headed our Entrepreneurs and Private Clients division.
Richard Oldfield, Head of Markets and Industries, graduated from University of York with an Economics degree. He joined the firm in 1992 and became a partner in 2003. Before joining the Executive Board in 2011 he led our Banking & Capital Markets business within Assurance. He has worked in London, Zurich, Paris, New York and most recently Sydney on both audit and non-audit clients.
Richard Sexton, Head of Reputation and Policy, graduated from Southampton University with a degree in Mathematics and Business Finance. He joined the firm in 1980 and he became a partner in 1991. He has spent time in New York and Hong Kong. Before joining the Executive Board in 2006 as Head of Assurance he led our London Assurance practice.
Keith Tilson, Chief Financial Officer, is in charge of Finance and Operations. He read Economics at Cambridge University. After joining the firm in 1976, he spent four years in Sydney and became a partner in 1988. Before taking up his current role, he was Managing Partner Operations and Finance and before that Head of Advisory.
Ashley Unwin, Head of Consulting, joined the firm in May 2009 from Terra Firma Capital Partners Limited, where he was a Managing Director. Ashley had been acting Chief Operating Officer for EMI Music in North America and CEO for EMI Music in the UK and Ireland. He spent the early part of his career at Arthur Andersen becoming part of the Consulting Executive. Ashley became a member firm partner in 1999 and one of the youngest ever worldwide partners in 2001.
Robert Kaufeler is Board Secretary.
The majority of our Executive Board maintain significant client facing responsibilities.
The Supervisory Board is independent of the Executive Board and twelve of its members are elected by the firm’s partners for a two or four years terms of office.
In addition, the Chairman of the Executive Board and the two UK members of the Board of PwC International are ex officio members of the Supervisory Board.
The Supervisory Board generally meets monthly but may occasionally hold additional meetings as necessary. The current elected Supervisory Board members took office on 1 January 2013.
The Supervisory Board provides the Chairman with guidance on matters of actual or potential concern to the partners. It is also responsible for approving the Annual Report, for recommending the admission of new partners, for overseeing the Chairman’s election process and for checking that our policies on partners’ remuneration are being properly applied. It also has the power to initiate a ballot for the removal of the Chairman from office.
The Senior Management Remuneration Committee is a committee of the Supervisory Board. It makes recommendations to the Supervisory Board, which sets the Chairman’s profit share and approves the Chairman’s recommendations for the profit shares of the other Executive Board members.
The Audit and Risk Committee is a committee of the Supervisory Board that has the responsibility for reviewing the policies and processes for identifying, assessing and managing risks within the firm. It oversees the management of those risks, including financial control, compliance and independence. It also reviews the firm’s financial statements and considers the scope, results and effectiveness of internal and external audit, including reviewing the external auditors’ independence and any nonaudit services and fees. The Chief Financial Officer and General Counsel, together with the internal and external auditors, attend the committee’s meetings by invitation. It met twelve times in the year ended 30 June 2011 (2010: seven times).
For the terms of reference of the Supervisory Board and of the Audit and Risk Committee, please go to Terms of Reference.
Those marked with an asterisk will serve for two years and the others will serve for four years. Matt Thorogood has been elected as Chairman of the Supervisory Board.
Ex officio members: