The ASX has named former Challenger head Dominic Stevens as its new managing director and chief executive.
Mr Stevens replaces former ASX chief executive Elmer Funke Kupper, who resigned in March 2016 following allegations about his conduct as chief executive of Tabcorp in 2009.
Mr Stevens has close to three decades of experience working in financial markets. He has been a non-executive director on the ASX’s board since 2013, and has previously served on the ASX audit and risk committee as well as on a number of clearing and settling boards.
His extensive experience makes Mr Stevens “ideally qualified” for the role, said ASX chair Rick Holliday-Smith.
“Dom’s long involvement in financial markets, his experience as a CEO and his time as a director means the ASX Board is delighted and confident in making this appointment – he is popular and highly-regarded by ASX’s Board, staff and major stakeholders,” Mr Holliday-Smith said.
Mr Stevens said he was “excited by the opportunity” and hoped to make the exchange more innovative and competitive, adding that “there is no organisation quite like it”.
“The financial markets are dynamic and ASX will continue to adapt to the changing conditions and needs of its customers. I am looking forward to working more closely with the talented people at ASX, and taking the company’s competitiveness and strong commitments to innovation and customer service to the next level,” he said.
The appointment coincides with the addition of Melinda Conrad to the ASX board of directors.
Ms Conrad currently serves on the boards of OzForex Group and the Reject Shop, and Mr Holliday-Smith said her broad experience across the financial services, retail and healthcare sectors would be a welcome addition to the board.
“Her business strategy and marketing expertise will be particularly valuable to the ASX Board as we deepen our stakeholder engagement and develop future opportunities,” he said.