ASIC announces executive leadership appointments

The Australian Securities and Investments Commission (ASIC) has announced two new appointments that it said continue its “program of transformation work”.

ASIC chair Joe Longo announced on Thursday morning that, following an “international search”, Peter Soros has been appointed as executive director regulation and supervision, commencing in November.

Soros is currently the deputy CEO regulation at the Australian Transaction Reports and Analysis Centre (AUSTRAC), having served in the role for six years. He also spent eight months as acting CEO of the financial intelligence and anti-money laundering and counter-terrorism financing regulator last year.

Longo also announced that Chris Savundra would take on the role of executive director enforcement and compliance, effective 28 October 2024.

Savundra is currently ASIC general counsel and executive director legal services, with the regulator noting that he will bring significant litigation experience to his new role, having dealt with some of ASIC’s “most significant and complex matters”, including the Bank Bill Swap Rate litigation.

ASIC added that recruitment to replace his current role is underway.

According to Longo, the executive changes form part of the corporate regulator’s ongoing transformation program after what he called ASIC’s largest organisational redesign in 15 years.

“We continue to change and evolve so we can ensure ASIC is an ambitious, confident and modern regulator,” Longo said.

“I would like to congratulate Peter and Chris on their appointments. The talent and experience they bring to those roles will be invaluable.”

ASIC had previously appointed three new commissioners in 2023, along with new executives earlier this year, including Diana Steicke as executive director registry and intelligence, Joanne Harper as executive director data, digital and technology, and Annie Reeves as chief people and culture transformation officer.

Longo said following announcements in April about Warren Day’s secondment to the Commonwealth Director of Public Prosecutions, a global search for a new permanent CEO would also commence shortly.

“The cumulative effect of these changes will help ensure ASIC is set up to meet the challenges and opportunities the agency faces,” Longo said.

“The work we have undertaken on ASIC’s transformation is delivering positive results for Australians, and we acknowledge that there are opportunities to continue that improvement.

“I am excited by the agency’s future and I am committed to the renewal and culture transformation that we are undergoing.”