After a difficult year of regulatory fines and lawsuits, the Australian Stock Exchange (ASX) is parting company with chief risk officer (CRO) Hamish Treleaven, who is set to retire.
Treleaven was appointed CRO in March 2017 with responsibility for designing and implementing the firm’s risk management frameworks. Potential candidates to replace Treleaven are being sought from both within and outside of ASX.
Treleaven departure follows a AUS$1.1 million fine levied against ASX in March by Australia’s corporate regulator over pre-trade transparency rule breaches.
In August, ASIC sued ASX for allegedly misleading statements made about its Clearing House Electronic Subregister System (CHESS) replacement project.
On Treleaven’s departure, Helen Lofthouse, ASX managing director and CEO, said: “Hamish has played a critical role in building out ASX’s risk management capability and driving the maturity of our frameworks, systems and processes. Over more than seven years he has been an integral part of ASX, supporting the group in navigating a period of significant change and progress, including continued uplift in risk management practices to meet evolving global standards.”
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