ASIC has made two appointments to its senior executive leadership team covering regulation and enforcement following an international search.
Peter Soros has been appointed from the Australian Transaction Reports and Analysis Centre (AUSTRAC) as executive director, regulation and supervision, to start in November.
At AUSTRAC, he currently holds the position of deputy chief executive for regulation where is responsible for its regulatory and compliance operations as well as legal, policy and communication functions.
He also held the position of acting CEO for eight months last year before the appointment of Brendan Thomas for a five-year term in May.
The second appointment at the regulator is an internal promotion of Chris Savundra to the role of executive director, enforcement and compliance. This will see him oversee the leadership, management and strategic direction of ASIC’s enforcement and compliance response to misconduct.
Savundra has worked at the regulator since 2010, having previously worked at law firm Allens, and currently works as ASIC general counsel and executive director for legal services. He will transition to the new role on 28 October 2024.
ASIC said recruitment is underway for a replacement to Savundra’s previous role.
The regulator is also undergoing a global search for a new chief executive after the exit of Warren Day for a secondment at the Commonwealth Director of Public Prosecutions (CDPP) which was announced in April.
Day had worked at the regulator since November 2003 in a variety of roles including as regional commissioner of Victoria for 13 years, chief operating officer, and executive director for assessment and intelligence.
ASIC chair Joe Longo said the two appointments are an example of how the regulator is transforming as an organisation.
He said: “We continue to change and evolve so we can ensure ASIC is an ambitious, confident and modern regulator. I would like to congratulate Peter and Chris on their appointments. The talent and experience they bring to those roles will be invaluable.
“The cumulative effect of these changes will help ensure ASIC is set up to meet the challenges and opportunities the agency faces. 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.”
