ASIC announces senior executive leadership exits
ASIC chief executive, Warren Day, to depart the corporate regulator amid changes to its senior executive leadership team.
From 1 June, Day will take up a secondment as the director’s executive officer at the Commonwealth Director of Public Prosecutions (CDPP).
ASIC said its relationship with the CDPP underpinned the regulator’s enforcement work.
While the secondment is a temporary role, Day will not be returning to ASIC upon its completion.
Day has worked at the regulator since November 2003 in a variety of roles including as regional commissioner for Victoria for 13 years, chief operating officer and executive director for assessment and intelligence.
Executive director of regulation and supervision, Greg Yanco, will be appointed as interim CEO effective 1 June. However, he is expected to retire from the regulator in mid-2025 so a local and global search will commence at the start of next year for a permanent appointment.
Yanco is currently the executive director of regulation and supervision and previously worked as the executive director of markets until June 2023.
Finally, executive director of enforcement and compliance, Tim Mullaly, will retire from ASIC at the end of July 2024 after more than 25 years.
Mullaly has held executive roles at ASIC for the last 12 years, leading the financial services enforcement team for 11 years and, for the last year, enforcement and compliance (E&C) team.
An executive search for his replacement will “commence shortly”, ASIC said.
Chair, Joe Longo, said: “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.
“Since I embarked on the review of ASIC’s infrastructure and operations on my first day as ASIC chair, Warren has played a significant leadership role, particularly with leading the organisational redesign, the delivery of our strategic and enforcement priorities, and the management of ASIC’s executive leadership team.
“Tim has for many years played a crucial role in ensuring that ASIC has maintained a strong and strategic pipeline of enforcement work. 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.”
AUTHOR
Laura Dew
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