CEO takes CDPP secondment; interim chief executive named
The Australian Securities and Investments Commission (ASIC) has announced several significant changes to its senior executive leadership team.
Joe Longo, ASIC chair, has confirmed that chief executive Warren Day (pictured left) will commence a secondment with the Commonwealth Director of Public Prosecutions (CDPP) as the executive officer starting June 1.
“Warren has been a significant contributor to ASIC for more than 20 years across virtually every part of ASIC’s remit,” Longo said. “This is an opportunity for him to bring the skills and experience he has gained at ASIC to an agency we have a shared interest in supporting and seeing succeed.
“Since I embarked on the review of ASIC’s infrastructure and operations on my first day as ASIC chair, Warren has played a significant leadership role, particularly with leading the organisational redesign, the delivery of our strategic and enforcement priorities, and the management of ASIC’s executive leadership team.
“Warren leaves with our full support and his appointment underpins the critical institutional relationship ASIC holds with the CDPP, which is core to our enforcement work.”
Day has indicated will not return to ASIC following his secondment.
Meanwhile, Greg Yanco (pictured centre), currently the executive director of regulation and supervision, will step into the role of interim CEO on the same date.
Yanco, who has been with ASIC since 2019, brings over three decades of experience in financial market regulation and supervision. He plans to retire in mid-2025, and a global search for his successor is slated to begin in early 2025.
Another change to ASIC’s leadership will come in July, when Tim Mullaly (pictured right), executive director of enforcement and compliance, retires after more than 25 years with the commission.
Mullaly has been instrumental in leading ASIC’s enforcement efforts, including the recent restructuring of the enforcement and compliance division, which consists of 450 staff members.
“Tim has for many years played a crucial role in ensuring that ASIC has maintained a strong and strategic pipeline of enforcement work. ASIC is in court every day, and we are launching new investigations every second day of the week, all aligned to the priorities we have set out,” Longo said.
The search for replacements for both the regulation and supervision and enforcement and compliance positions will commence soon.
“Filling these positions is an opportunity for executive renewal and ASIC’s ongoing transformation towards being a modern, ambitious, and confident regulator,” Longo said. “As the ongoing impact of our work continues to be realised, we also have opportunities for exceptional leaders to drive the next phase of ASIC’s transformation.
“I want to thank Warren and Tim for their significant contribution to ASIC over many years, and thank Greg for stepping into the Interim CEO role.”
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