Former APRA chair appointed to ASX board
The board of the ASX has appointed Wayne Byres as a non-executive director, who previously served as APRA chair for more than eight years.
According to the announcement, Byres’ appointment continues the program of board renewal under chair Damian Roche.
Roche commenced the role of chair in April 2021 and has overseen the appointment of five new non-executive directors since then.
“On behalf of the board, I am delighted to welcome Wayne. We look forward to drawing on his deep financial services and regulatory expertise,” the chair commented.
Byres brings more than three decades of experience working in financial services regulation, risk management, governance and public policy. He has held several key prudential supervisory roles in Australia and overseas.
Most notably, Byres was a former chair of APRA for eight years until October 2022 where he served on the RBA’s payments system board and was a member of the Australian Council of Financial Regulators.
Byres joined the regulator in 2014 for a five-year term before being elected for a second term in July 2019 for another five years but left early in October 2022.
Since leaving the regulator, he has been appointed as non-executive director of Macquarie Bank in February 2024, and is one of three bank-only, non-executive directors within the firm. Meanwhile, Byres is currently an expert advisor to the International Monetary Fund (IMF).
His earlier career included several senior executive roles at APRA, as well as roles at the RBA, the Bank of England, and the Bank for International Settlements.
ASX also confirmed its non-executive director, Yasmin Allen AM, intends to retire from the board in September, having first been appointed to the board in February 2015.
Commenting on her future departure, Roche said: “I want to thank Yasmin for her many years of diligent service where she always brought her commercial lens and the shareholder view to the boardroom. The board and I have benefited from her experience, judgement and counsel.”
AUTHOR
Jasmine Siljic
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
