Knott named ASIC boss
Former Commonwealth Funds Management chief and Australian Securities and Investment Commission (ASIC) deputy chairman David Knott is to take the top job at the investment watchdog when Alan Cameron steps down next Friday.
Jillian Segal, a current member of ASIC, takes over Knott's position as deputy chairman.
Treasurer Peter Costello paid tribute to Cameron, who has been chairman of ASIC since 1993.
"Under his leadership, the commission has cemented its reputation internationally and within the Australian business community as a leading securities regulator," Costello said.
Prior to joining ASIC, Knott spent 13 years in private legal practice prior to assuming senior roles in investment banking and public administration. Prior to becoming deputy chairman of ASIC, Knott was chief operating officer of the Australian Prudential Regulation Authority in 1998 and before that chief executive of Commonwealth Funds Management.
Knott will continue to be based in Melbourne while Ms Segal will be based in Sydney.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
