O'Neill, 55, will run the day-to-day operation of PricewaterhouseCoopers, while Schiro and other members of leadership will focus on spinning off the firm's consulting practice. He takes over some duties from chief executive James S. Schiro.

In addition, Frank Brown, 44, currently managing partner of PwC's New York area offices, will lead the global assurance and business advisory services.  Frank Doyle, 52, currently global leader of the technology, information, communications and entertainment industry practice, will lead the firm's transformation to a fully integrated e-business.
 
Rocco Maggiotto, 49, currently global financial services industry sector leader, will be responsible for the firm's industry specialization programs, client relationship management, marketing, and strategic planning. Amyas Morse, 51, currently global ABAS leader, will lead operations, with responsibility for overseeing cost and financial performances processes. John Roberts, 55, currently responsible for organizational development, will take on a new role in managing the PwC businesses that will be separated as part of the Big Five firm's restructuring, PwC said.

"Anyone who still believes that the core assurance business is a no-growth, lackluster loss-leader has been asleep for the past two years," Schiro said. "A confluence of forces -- the Internet, stakeholders' demands for real-time financial information, new corporate value drivers, global stock trading, 24-hour business news, security needs for electronically transmitted information -- are fundamentally changing the way we do business."

In February, PricewaterhouseCoopers said it planned to split its business into two or more separate operating units. Under the proposed restructuring plan, the organization's assurance and business advisory services, along with its tax practice, will remain as PricewaterhouseCoopers. Its management consulting, business process outsourcing, human resource consulting practices, and certain corporate finance activities will be developed into one or more separate businesses, the firm said.

According to Schiro, the goal of the restructuring is to position PwC "to be the global leader in responding to the new assurance challenges facing businesses and the accounting profession." Shiro added, "Today's appointments mark the next steps in that process."