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ASX appoints industry veteran to chief operating officer

By Jessica Penny
3 minute read

The market operator has named a new COO following a recent executive reshuffle.

The ASX has announced the appointment of Diona Rae as chief operating officer (COO), effective Monday 7 August.

Ms Rae first joined the ASX in early May as program director, delivery, a move that the market operator said would provide additional capacity and enterprise focus for the ASX’s delivery and regulatory programs.

She joined the exchange from Commonwealth Bank as executive general manager, privacy policy delivery, and was chief controls officer for the bank’s enterprise services group before that.


Ms Rae also served as chief risk officer at GPT Group for seven years, was previously partner at KPMG, and has held several roles at Macquarie Group, including a seven-year stint as head of business operational risk for Macquarie Securities.

She currently serves as a member of the UTS audit and risk committee.

The ASX said in a statement on Thursday that as COO, Ms Rae will be responsible for the enterprise customer and operations function, including project delivery, customer, brand and marketing, digital, and regulatory reporting.

Commenting on the appointment, ASX chief executive and managing director Helen Lofthouse, said: “Diona brings extensive experience in regulatory remediation programs and a proven track record delivering large, complex transformation, technology and risk programs.

“Her experience in transformation delivery will be invaluable for the ASX as we start to move into the execution phase of our strategy.

“Diona will also be responsible for executing our enterprise-wide customer strategy, working closely with our customers to improve our markets, products, and services. This includes leading our ‘design by design’ approach to making customer and people experiences frictionless and easy,” Ms Lofthouse added.

Ms Rae will succeed Val Mathews, current ASX chief customer and operating officer, who first announced her resignation in May.

The market operator confirmed, at the time, that a recruitment process was underway and that Ms Mathews would continue to support the ASX until a transition plan was put in place.

The appointment follows the ASX’s executive reshuffle in June, which saw Tim Hogben, group executive, securities and payments, step down following a 23-year career with the ASX.

Lisa Green, people and culture group executive, also confirmed her intention to depart after eight years with the company.