Former industry fund execs appointed to ASIC

In a statement, Mr Frydenberg announced former Equipsuper chief executive Danielle Press and former UniSuper chief risk and legal officer Sean Hughes as new full-time members of ASIC.

“The appointments of Ms Press and Mr Hughes build on the strong action already taken by the government in strengthening ASIC’s capabilities by committing to a further $70.1 million in funding to support ASIC’s new strategic direction and appointing a second deputy chairperson, Daniel Crennan QC, with a focus on enforcement,” the statement said.

“These appointments will boost the experience and capability of the commission in relation to financial markets and regulation, including superannuation, and will contribute to the leadership necessary to support the commission’s new strategic direction, which will enhance its ability to detect and address misconduct in financial services and protect consumers.”

Ms Press was most recently the chief executive of the Myer Family Corporation, and has held roles with UBS Global Asset Management in addition to her time with Equipsuper.

Mr Hughes is currently the group general counsel for Tabcorp, and has held roles with the New Zealand Financial Markets Authority, NAB and ANZ.

Both Ms Press and Mr Hughes have been appointed to their roles for a period of five years.