Former Challenger CEO to lead ASX
Former Challenger chief executive, Dominic Stevens, has been appointed as the new managing director and chief executive of ASX Limited (the Australian Securities Exchange).
Stevens' appointment was confirmed today by ASX chairman, Rick Holliday-Smith, and follows on from him having been an independent non-executive director of the business since December, 2013.
"Dom's long involvement in financial markets, his experience as a CEO and his time as a director means the ASX Board is delighted and confident in making this appointment," the chairman said. "He is popular and highly-regarded by ASX's Board, staff and major stakeholders. Dom is ideally qualified to lead the company and build on ASX's achievements."
Stevens has had nearly 30 years' experience in financial markets, having been the CEO of Challenger from 2008 to 2012, before which he was the company's deputy CEO and head of capital, risk and strategy. Prior to Challenger he held senior positions during a long career at Bankers Trust Australia.
Recommended for you
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.
