NEW BOSS AT ASX

DOMINIC Stevens (pictured) is the new Managing Director and CEO of ASX.

Stevens, who joined the ASX (ASX:ASX) as an independent non-executive director in December 2013, begins his new role today.

He replaces Elmer Funke, who stepped down from the role in March after being subject to bribery allegations stemming from his time in charge of TAB Corp.

Stevens has previously served on the Audit and Risk Committee and on ASX clearing and settlement boards. His remuneration comprises a fixed salary of $2 million, plus a mix of short and long-term incentives.

ASX Chairman, Rick Holliday-Smith, says Stevens is ideally qualified to lead the 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." 

Stevens was CEO of Challenger from 2008 to 2012, before which he was the company's Deputy CEO and head of capital, risk and strategy.

Previously to Challenger, he held senior positions at Bankers Trust Australia.

"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," says Stevens in a statement.

"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.

"The financial markets are dynamic and ASX will continue to adapt to the changing conditions and needs of its customers. I am looking forward to working more closely with the talented people at ASX, and taking the company's competitiveness and strong commitments to innovation and customer service to the next level."

The ASX is trading at $47.79, up 0.18 per cent since this morning.