ASIC names new chair
Joe Longo, a senior adviser for Herbert Smith Freehills and former general counsel for Deutsche Bank in London and Hong Kong, has been named the new chair of the Australian Securities and Investments Commission (ASIC).
Longo, who specialises in corporate law, replaces James Shipton who stepped down following issues around overpayments.
This is a return to the regulator for Longo, who previously was ASIC's national director of enforcement.
Outgoing chair James Shipton welcomed Longo and new deputy chair Sarah Court. "Joe is known to many at the agency from his time as National Director of Enforcement from 1996-2000 and subsequent interactions as a lawyer at Herbert Smith Freehills. His wealth of domestic and international experience will serve ASIC well in the vital work it does in supporting the financial system and economy, especially as Australia recovers from the downturn caused by the COVID-19 pandemic.
"We will work with Joe and Sarah over the coming weeks to manage a smooth transition to his leadership of the organisation."