The former defender has departed his England role this week after helping oversee the most successful spell in the team's modern history.
Cole joined the Young Lions set-up in 2021 and helped guide the side to back-to-back European Under-21 titles under manager Lee Carsley.
Carsley waved goodbye to Cole on Tuesday, wishing him the best for the future where reports suggest a managerial role will be on the horizon.
"I want to pay tribute to Ashley who played a major part in our two Euro wins and also had a key role in the current campaign with his tactical and technical knowledge.
"As well as being an important part of our coaching team, he also had a positive, inspirational impact on the players given his own elite experience.
"I am certain he will have even more success in his coaching career whatever the future holds."
Cole leaves his England role just one year after he departed Serie B side Cesena where he lasted just 3 months, collecting one win, three draws and four defeats. He did not meet expectations and the "appointment was not well-received by many fans” as per The Sun.
As the new season has already begun, Cole may be seeking to replace a struggling manager over the coming months. A move to a lower league English or Italian side cannot be ruled out as he restarts his managerial career.