Stone will be responsible for working with asset and wealth management clients across audit, tax, advisory, deals and legal services across the UK.
Having been with the advisory group for the last 17 years, Stone has 20 years’ experience working both in the UK and Australia, and has led PwC’s tax team since February 2013.
Having held his previous role since 2014, Pugh will now continue to grow PwC’s Assurance business as the industry faced increased regulation, technological advancements and changing operating models.
Stone said: “I’m thrilled to have been asked to lead such a strong and talented team. The UK’s asset and wealth management industry is an exciting place to work and there are undoubtedly a number of challenges as well as opportunities on the horizon.”
She added: “I look forward to continuing to help our clients ensure they are well placed to deal with issues such as Brexit, technological change, ongoing regulatory scrutiny and cost management.”
Andrew Kail, UK financial services leader at PwC, said: “Asset and wealth management is a vital part of the UK financial services industry and a key industry sector for PwC, so I am delighted Elizabeth Stone has taken on the leadership of our UK practice.”