The ASX has a new CEO

Photo: Ryan Pierse/ Getty Images.

Dominic Stevens has been appointed managing director and CEO of the ASX.

Stevens, who joined ASX as an independent non-executive director in December 2013, takes up his new role today.

He replaces Elmer Funke Kupper who resigned in March after it was revealed that there was an investigation by Australia Federal police into Tabcorp and $200,000 paid in 2010 to the family of Cambodian Prime Minister Hun Sen.

At that time, Kupper was the CEO of the betting group which had been seeking an online gaming licence in Cambodia. He had been chief executive at the ASX since October 2011.

Stevens was CEO of Challenger from 2008 to 2012. Before that he held senior positions during a long career at Bankers Trust Australia.

Stevens said: “The company is in a strong position, has an enviable reputation and is well positioned for future opportunities. The financial markets are dynamic and ASX will continue to adapt to the changing conditions and needs of its customers.”

His base pay is $2 million, plus short and long term incentives.

The ASX also announced the appointment of Melinda Conrad at a non-executive director, effective immediately. Sydney-based Conrad is a director of OzForex and Reject Shop and a former David Jones director.

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