The government has appointed Harvard Law School executive director James Shipton as the new chair of ASIC, replacing outgoing chair Greg Medcraft.
James Shipton has been appointed as the new chair of ASIC, replacing Greg Medcraft whose term ends on 12 November 2017.
Mr Shipton is currently the executive director of the program on international financial systems at Harvard Law School.
Between 2013 and 2016, he was the executive director, intermediaries supervision and licensing division, at the Hong Kong Securities and Futures Commission.
Prior to that he spent nine years at Goldman Sachs – five years as head of hedge fund consultancy and four years as head of government and regulatory affairs in the Asia-Pacific region.
Current deputy chair Peter Kell will serve as acting chair of ASIC between 12 November 2017 (when Mr Medcraft's term ends) and 1 February 2018 when Mr Shipton begins his role.
Announcing Mr Shipton's appointment, Minister for Financial Services Kelly O'Dwyer thanked Mr Medcraft, noting he had seen "significant changes in ASIC’s role during his tenure, including reforms to improve the quality of financial advice and financial literacy, and the establishment of a national business names register".
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