ASIC announced leadership changes amid ongoing transformation.
The current CEO, Warren Day, is leaving the institution after over 20 years of service.
The
Australian Securities and Investments Commission (ASIC) has announced a series
of changes to its executive leadership team as the organization continues its
transformation journey.
The
changes, which affect key positions such as the Chief Executive Officer (CEO),
Executive Director of Regulation and Supervision, and Executive Director of
Enforcement and Compliance, aim to drive ASIC's ongoing evolution as a “modern,
ambitious and confident regulator.”
ASIC's CEO, Warren Day, Seconded to CDPP
In the most
important move, ASIC's Chairman, Joe Longo, has accepted a request from the
Commonwealth Director of Public Prosecutions (CDPP) for ASIC's CEO, Warren Day, to
join the CDPP on secondment as the Director's Executive Officer effective from June
2024.
It's worth
noting that Day was associated with the regulator for over two decades. For the past three years, he supported its organizational transformation as its Chief
Operating Officer and Chief Executive Officer. During his tenure, ASIC presented, among other things, its four-year development plan. Moreover, the regulator wiped out 3,500 fraudulent investment websites in an anti-scam initiative in less than a year.
“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 commented.
In addition, ASIC's Chairman praised Day's leadership role in ASIC's
organizational redesign, delivery of strategic and enforcement priorities, and
management of the executive leadership team.
Greg Yanco Appointed as
Interim CEO
With Day's
departure, the Executive Director of Regulation and Supervision, Greg Yanco, will
become ASIC's Interim CEO, effective June 2024. Yanco brings
more than 30 years of experience in financial market development, regulation,
and supervision to the position.
However, he
has informed the Commission that he expects to retire in mid-2025, and a search
for a permanent CEO will commence in early 2025.
Enforcement and Compliance
Head, Tim Mullaly, to Retire
After over 25 years of service to ASIC, the Executive Director of Enforcement and
Compliance, Tim Mullaly, has also announced his retirement, effective at the end
of July 2024.
“Tim has
for many years played a crucial role in ensuring that ASIC has maintained a
strong and strategic pipeline of enforcement work,” Longo commented. “ASIC is
in court every day, and we are launching new investigations every second day of
the week, all aligned to the priorities we have set out.”
During
his 12-year tenure in executive positions at ASIC, Mullaly has been
instrumental in shaping the organization's enforcement and compliance efforts.
For over a decade, he spearheaded the Financial Services Enforcement team
before transitioning to lead the newly formed Enforcement and Compliance
(E&C) team in the past year. In this role, Mullaly was pivotal in
establishing the E&C team's structure and guiding a substantial workforce
of 450 individuals dedicated to achieving robust enforcement and compliance
results.
Searches for New ASIC’s Executive
Directors to Commence
ASIC will
soon begin conducting a global search for the Executive Director of Regulation
and Supervision and Executive Director of Enforcement and Compliance roles.
Longo views
these positions as opportunities for executive renewal and ASIC's ongoing
transformation. "As
the ongoing impact of our work continues to be realized, we also have
opportunities for exceptional leaders to drive the next phase of ASIC's
transformation."
Besides
updates in critical executive roles, ASIC is enhancing its executive leadership
by introducing a new Executive Director position for Registry and Intelligence.
This follows the transition of Registry services from the ATO back to
ASIC, and the creation of the Chief People and Culture Transformation Officer
role. The organization also recently appointed Joanne Harper as the
Executive Director for Data, Digital, and Technology.
Longo
thanked Day and Mullaly for their significant contributions
to ASIC over many years and thanked Yanco for stepping into the Interim CEO
role during this transition period.
The
Australian Securities and Investments Commission (ASIC) has announced a series
of changes to its executive leadership team as the organization continues its
transformation journey.
The
changes, which affect key positions such as the Chief Executive Officer (CEO),
Executive Director of Regulation and Supervision, and Executive Director of
Enforcement and Compliance, aim to drive ASIC's ongoing evolution as a “modern,
ambitious and confident regulator.”
ASIC's CEO, Warren Day, Seconded to CDPP
In the most
important move, ASIC's Chairman, Joe Longo, has accepted a request from the
Commonwealth Director of Public Prosecutions (CDPP) for ASIC's CEO, Warren Day, to
join the CDPP on secondment as the Director's Executive Officer effective from June
2024.
It's worth
noting that Day was associated with the regulator for over two decades. For the past three years, he supported its organizational transformation as its Chief
Operating Officer and Chief Executive Officer. During his tenure, ASIC presented, among other things, its four-year development plan. Moreover, the regulator wiped out 3,500 fraudulent investment websites in an anti-scam initiative in less than a year.
“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 commented.
In addition, ASIC's Chairman praised Day's leadership role in ASIC's
organizational redesign, delivery of strategic and enforcement priorities, and
management of the executive leadership team.
Greg Yanco Appointed as
Interim CEO
With Day's
departure, the Executive Director of Regulation and Supervision, Greg Yanco, will
become ASIC's Interim CEO, effective June 2024. Yanco brings
more than 30 years of experience in financial market development, regulation,
and supervision to the position.
However, he
has informed the Commission that he expects to retire in mid-2025, and a search
for a permanent CEO will commence in early 2025.
Enforcement and Compliance
Head, Tim Mullaly, to Retire
After over 25 years of service to ASIC, the Executive Director of Enforcement and
Compliance, Tim Mullaly, has also announced his retirement, effective at the end
of July 2024.
“Tim has
for many years played a crucial role in ensuring that ASIC has maintained a
strong and strategic pipeline of enforcement work,” Longo commented. “ASIC is
in court every day, and we are launching new investigations every second day of
the week, all aligned to the priorities we have set out.”
During
his 12-year tenure in executive positions at ASIC, Mullaly has been
instrumental in shaping the organization's enforcement and compliance efforts.
For over a decade, he spearheaded the Financial Services Enforcement team
before transitioning to lead the newly formed Enforcement and Compliance
(E&C) team in the past year. In this role, Mullaly was pivotal in
establishing the E&C team's structure and guiding a substantial workforce
of 450 individuals dedicated to achieving robust enforcement and compliance
results.
Searches for New ASIC’s Executive
Directors to Commence
ASIC will
soon begin conducting a global search for the Executive Director of Regulation
and Supervision and Executive Director of Enforcement and Compliance roles.
Longo views
these positions as opportunities for executive renewal and ASIC's ongoing
transformation. "As
the ongoing impact of our work continues to be realized, we also have
opportunities for exceptional leaders to drive the next phase of ASIC's
transformation."
Besides
updates in critical executive roles, ASIC is enhancing its executive leadership
by introducing a new Executive Director position for Registry and Intelligence.
This follows the transition of Registry services from the ATO back to
ASIC, and the creation of the Chief People and Culture Transformation Officer
role. The organization also recently appointed Joanne Harper as the
Executive Director for Data, Digital, and Technology.
Longo
thanked Day and Mullaly for their significant contributions
to ASIC over many years and thanked Yanco for stepping into the Interim CEO
role during this transition period.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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