Ex-Challenger boss takes ASX hot seat

Dominic Stevens succeeds the scandal-hit Elmer Funke Kupper to lead Australia’s securities exchange.

Australia’s exchange operator has appointed Dominic Stevens as chief executive officer, replacing Elmer Funke Kupper who resigned in March this year.

Stevens has been with ASX as an independent non-executive director since December 2013, and has served on the audit and risk committee and a number of ASX’s clearing and settlement boards, according to an exchange statement on Monday.

ASX said the appointment was made after a comprehensive selection process undertaken by the ASX board with the assistance of a search firm.

Before joining ASX, Stevens was the CEO of Australian investment management firm Challenger between 2008 and 2012. Prior to that, he worked at American banking house Bankers Trust as a general partner for 13 years.

The appointment of Stevens came five months after former CEO Funke Kupper resigned following allegations of corruption at his previous company.

Funke Kupper was CEO of Tabcorp, an Australian Gaming Company, at the time the company allegedly paid A$200,000 ($150,000) to the family of Cambodia's prime minister, Hun Sen. The payment, made in 2010, came at a time when the company was seeking an online gaming licence in the country.

The payment is subject to an investigation by the Australian Federal Police.

In a separate statement, ASX said it had appointed Melinda Conrad as a non-executive director. Conrad is a non-executive director of foreign exchange services provider OzForex Group and discount variety retailer Reject Shop.

 

¬ Haymarket Media Limited. All rights reserved.