Newberry will take over the role with immediate effect from John Tattersall who retired as a partner in June after 34 years with the firm.
He will be responsible for leading and co-ordinating PwC’s 150-strong regulatory advisory and consulting practice servicing the UK financial services industry.
Newberry has been with the firm for 32 years and has 20 years of experience working in the financial services industry. During his career he has led PwC’s global insurance, global actuarial and UK financial services consulting practices.
He is presently UK head of private sector consulting at PwC, is a member of its supervisory board and chairs its strategy and governance committee.
PwC UK financial services leader Chris Jones says: “The financial regulatory environment is changing faster than at any time in its history. The financial services industry is facing unprecedented levels of regulatory pressure and our clients have to contend with a number of new regulatory challenges and hurdles.
“John Tattersall is a recognised authority in the world of financial regulation and his knowledge and exceptional expertise has been central to the success of the regulatory practice. Pat too has a wealth of knowledge and extensive experience of the financial services industry. We are confident that he is the right man to take over from John and help guide our clients through these difficult times.”
Pat Newberry adds: “The next few years are likely to be remembered as a regulatory revolution. We will see significant changes to the structure of the industry as it responds to commercial and regulatory pressures and I am delighted to be taking on this role at such an exciting time. I look forward to helping financial services industries meeting the challenges that lie ahead.”