ASX Shakes Up Executive Ranks Amid Technology Overhaul
New Australian Securities Exchange (ASX) CEO Anthony Attia has initiated significant changes to his executive team just under a month after taking the helm. The move is part of ASX's efforts to upgrade its technology and recover from trading outages that have plagued the exchange.
Attia announced the appointment of Keir Barnes as Chief Financial Officer, replacing Andrew Tobin who will retire. Mark Peterson has been appointed Managing Director of Clearing and Settlements in a new role, while Elaine Vaisanen takes on the position of Chief Operating Officer.
The changes come as ASX embarks on a major technology overhaul to upgrade its ageing settlement systems, which have been criticized for causing trading outages. Peterson, who was previously CEO of the New Zealand Exchange for nine years, and Vaisanen, with 25 years of experience at JPMorgan in Asia-Pacific, bring high-level expertise to their respective roles.
Attia stated that these new executives will 'speed up this next phase in ASX's development' and explore opportunities for future growth. The ASX has been working to repair its damaged reputation after a failed upgrade of its settlement system nine years ago, which led to criticism from the Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia.