ASIC announces leadership reshuffle – CEO to go

ASIC announces leadership reshuffle – CEO to go | Insurance Business Australia

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ASIC announces leadership reshuffle – CEO to go

Changes part of a strategic transition

Insurance News

By
Roxanne Libatique

The Australian Securities and Investments Commission (ASIC) has revealed updates to its top leadership, initiating a series of significant transitions within the organisation.

ASIC chair Joe Longo announced that Warren Day, currently serving as ASIC’s CEO, will be seconded to the Commonwealth Director of Public Prosecutions (CDPP) as the director’s executive officer starting June 1, 2024.

“Warren has been a significant contributor to ASIC for more than 20 years across virtually every part of ASIC’s remit. This is an opportunity for him to bring the skills and experience he has gained at ASIC to an agency we have a shared interest in supporting and seeing succeed,” Longo said.

Leadership changes at ASIC

In the interim, Greg Yanco will step in as ASIC’s acting CEO from June 1, 2024.

Previously the executive director of markets and currently the executive director of regulation and supervision, Yanco has amassed over 30 years of experience in overseeing financial markets and regulatory processes. He has communicated his intention to retire in mid-2025, which led ASIC to start preparations for recruiting a permanent CEO early in 2025.

In addition, Tim Mullaly, the executive director of enforcement and compliance, is set to retire in July 2024 after dedicating more than 25 years to ASIC. His leadership over the past 12 years was described as instrumental in shaping ASIC’s enforcement and compliance strategies, managing a large team tasked with key regulatory outcomes.

Commenting on the leadership changes, Longo – who recently delved into boardroom complexities – said: “I want to thank Warren and Tim for their significant contribution to ASIC over many years and thank Greg for stepping into the interim CEO role.” 

ASIC bolsters executive team

As these senior figures transition out of their roles, ASIC plans to fill them through both local and international searches.

ASIC is also enhancing its executive team with new positions, including an executive director for registry and intelligence and a chief people and culture transformation officer, as it brings back registry services in-house from the Australian Taxation Office. Joanne Harper has also been appointed as executive director for data, digital, and technology.

“Filling these positions is an opportunity for executive renewal and ASIC’s ongoing transformation towards being a modern, ambitious, and confident regulator. As the ongoing impact of our work continues to be realised, we also have opportunities for exceptional leaders to drive the next phase of ASIC’s transformation,” Longo said.