Carol is a financial services specialist advising firms on UK and EU regulations and assisting them in managing their businesses within and adapting their corporate structure to complex regulatory environments.
Having worked in private practice as a corporate lawyer and in-house for a variety of banks and investment firms, Carol has been involved in a wide range of legal and compliance matters and has a deep understanding of the practical implications of legal issues for individuals and businesses, the causes of regulatory problems as well as the impact of changing regulations. She is accustomed to taking a solution driven practical and risk based approach for the firms she advises and has experience dealing with the FCA and other regulators across Europe.
Previously at Linklaters, Merrill Lynch (general counsel private banking EMEA), State Street (head of legal EMEA) and Invesco (interim head of regulatory affairs), Carol has Board, Executive Committee and general counsel experience.
Carol’s main interests lie in private banking and fund management.
- Developed strategies for potential outcomes of Brexit and engaged with regulators and industry bodies in the UK and Europe on behalf of a global asset manager and the asset management industry.
- Advised on the FCA Asset Management Market Study in relation to fee structures, value for money and disclosures.
- Advised on Manco and SuperManco structures.
- Advised on the impact and implementation of the Market Abuse Directive II on asset managers in the UK and the US.
- Advised on the application of the Senior Manager and Certification Regime, EMIR, MiFID II and PRIPPS across EMEA, particularly on asset manager trading arrangements, costs and charges, product governance, inducements/rebates and payment for research.
- Established a regulatory change management function.
- Management of FCA Section 166 Reviews on corporate governance.
- Advised on the evolution of fund governance and stewardship requirements.
- Advised on the business reorganization of a UK asset manager to avoid classification as a MiFID firm holding client money.
- Advised on and implemented the re-organization of a UK bank to reduce recurring capital and tax charges.
- Advised on numerous acquisitions and disposals of banks and banking businesses in the UK and in Europe from small sales offices to a very significant asset servicing business.
- Negotiated the settlement of disputes arising in the UK as a result of the 2008 banking crisis and acted as key interface with Lehman Brothers International Limited.
- Handled a large volume of private client complaints for mis-selling following the fine issued by the US Department of Justice against Merrill Lynch and dealing with intense regulatory scrutiny.
- Advised on the transformation of technology for a fund administration business.
2019 – Present, Consultant Cubism Law
2018 - Present, Non-Executive Director Infirst Healthcare Limited
2014 – 2018 Regulatory Affairs EMEA, Invesco Perpetual
2012 – 2013 Group Head of Client Management, Maitland Group
2008 – 2011 Senior Vice President and Head of Legal EMEA, State Street Bank & Trust Company
1999 – 2008 Managing Director, Merrill Lynch
1992 – 1999 Senior Associate, Linklaters, London, Paris
Institut d’Etudes Politiques de Paris
University of Paris – MA in International Business and Diploma Post Graduate Studies in Business Law
Harvard Business School Executive Management
Carol is a member of the Financial Services Lawyers Association (FSLA)