ASIC names Soros and Savundra as executive directors
17 October 2024 Australia
Image: furyon/stock.adobe.com
The Australian 色花堂and Investments Commission (ASIC) continues its transformation work with two appointments to its senior executive leadership team.
Peter Soros will assume the role of executive director of regulation and supervision in November, while Chris Savundra will take on the role of executive director of enforcement and compliance, effective 28 October.
Soros brings more than two decades of experience in financial intelligence, regulation, and compliance to the table.
He joins from the Australian Transaction Reports and Analysis Centre (AUSTRAC), an anti-money laundering and counter-terrorism financing regulator, where he has served as deputy CEO of regulation for six years.
Savundra will oversee the leadership, management, and strategic direction of ASIC鈥檚 enforcement and compliance response to misconduct across all sectors the agency regulates, except markets.
He has more than 25 years of legal, regulatory, and enforcement experience.
Before joining ASIC as senior executive leader of markets enforcement in 2010, Savundra worked in the litigation group of Allens in Perth and Herbert Smith in London.
Recruitment for Savundra鈥檚 current position of general counsel and executive director of legal services is underway, ASIC has confirmed.
According to Joe Longo, ASIC chair, the executive changes continued the commission鈥檚 transformation following its largest organisational redesign in 15 years.
This included the appointment of three new commissioners in 2023 and several new executives this year.
鈥淭he cumulative effect of these changes will help ensure ASIC is set up to meet the challenges and opportunities the agency faces,鈥� he says.
鈥淭he work we have undertaken on ASIC鈥檚 transformation is delivering positive results for Australians, and we acknowledge that there are opportunities to continue that improvement. I am excited by the agency鈥檚 future and I am committed to the renewal and culture transformation that we are undergoing.鈥�
He added that a global search for a new permanent CEO would commence shortly.
Peter Soros will assume the role of executive director of regulation and supervision in November, while Chris Savundra will take on the role of executive director of enforcement and compliance, effective 28 October.
Soros brings more than two decades of experience in financial intelligence, regulation, and compliance to the table.
He joins from the Australian Transaction Reports and Analysis Centre (AUSTRAC), an anti-money laundering and counter-terrorism financing regulator, where he has served as deputy CEO of regulation for six years.
Savundra will oversee the leadership, management, and strategic direction of ASIC鈥檚 enforcement and compliance response to misconduct across all sectors the agency regulates, except markets.
He has more than 25 years of legal, regulatory, and enforcement experience.
Before joining ASIC as senior executive leader of markets enforcement in 2010, Savundra worked in the litigation group of Allens in Perth and Herbert Smith in London.
Recruitment for Savundra鈥檚 current position of general counsel and executive director of legal services is underway, ASIC has confirmed.
According to Joe Longo, ASIC chair, the executive changes continued the commission鈥檚 transformation following its largest organisational redesign in 15 years.
This included the appointment of three new commissioners in 2023 and several new executives this year.
鈥淭he cumulative effect of these changes will help ensure ASIC is set up to meet the challenges and opportunities the agency faces,鈥� he says.
鈥淭he work we have undertaken on ASIC鈥檚 transformation is delivering positive results for Australians, and we acknowledge that there are opportunities to continue that improvement. I am excited by the agency鈥檚 future and I am committed to the renewal and culture transformation that we are undergoing.鈥�
He added that a global search for a new permanent CEO would commence shortly.
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