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Dominic Stevens appointed as ASX new CEO

Xinhua, August 1, 2016 Adjust font size:

The Australian Securities Exchange Ltd's (ASX) has appointed Dominic Stevens as its new managing director and chief operating starting Monday.

Stevens appointment came months after its former chief Elmer Funke-Kupper resigned in March. While the ASX went on a comprehensive search for a replacement, ASX chairman Rick Holliday-Smith filled in the position on an interim basis.

Funke-Kupper was believed to have left following allegations that he was aware of a 200,000 Australian dollars (151,954 U.S. dollars) bribery payment made to Cambodian Prime Minister Hun Sen in 2009 when he was chief executive of Tabcorp, a gaming company.

"Dom's long involvement in financial markets, his experience as a CEO and his time as a director means the ASX Board is delighted and confident in making this appointment. He is popular and highly-regarded by ASX's Board, staff and major stakeholders. Dom is ideally qualified to lead the company and build on ASX's achievements," Holliday-Smith said in a statement.

Stevens joined the ASX as an independent non-executive director in December 2013 and serving on the audit and risk committee, and on a number of ASX's clearing and settlement boards. He has close to 30 years' experience in financial markets and was also the chief executive of Challenger from 2008 to 2012.

"I am excited by the opportunity and responsibility the board has given me to lead ASX. ASX does operate at the heart of Australia's financial markets. There is no organisation quite like it. The company is in a strong position, has an enviable reputation and is well positioned for future opportunities," Stevens said. Enditem