Michael Magee

Michael Magee

UK Financial Services Deals Leader, PwC United Kingdom

Mike leads the UK firm’s Financial Services Restructuring Practice. He has over fifteen years of experience in working with management teams in the development and delivery of large and complex change programmes. He has recently completed the setup and structuring of a new division for a major UK bank, advising on all areas from asset strategy and funding plans, to detailed operating model development and implementation.

Mike led the operational restructuring programme for Allied Irish bank over the initial 18 month period, as the bank undertook a wholesale change of its business and operations. Mike led the delivery of numerous regulatory programmes for the bank, as well as the closure and divestment of non core businesses, improving financial control and implementing a 20% cost reduction programme. He also led the UK firm’s advice to one of Europe's largest and most challenged and systemically important financial institutions, supporting the management team in developing plans to run off the bank’s core book, while right sizing the cost base, following the disposal of all independent  franchises.

Currently, Mike is advising a number of Europe’s largest universal banks on the implementation of a cost management programmes and infrastructure as they seek to tightly control their cost base against the background of a restructuring in their portfolio of services.

He coordinates PwC’s pan-European bank restructuring work and frequently liaises with regulators and governments on the practical implementation of regulatory change on banks. Mike speaks publically on bank  restructuring and large structural change programmes; recently speaking at AFME’s conference on Italian Bank Restructuring and running a Bank Restructuring Workshop for the ECB.  Mike is a guest lecturer at the London Business School.

Contact details

Tel: +44 (0)20 7804 5204