Before the market opened today, primary exchange operator ASX revealed that Helen Lofthouse would take over the role as managing director and CEO.
Current CEO Dominic Stevens intends to remain in the position until 31 July 2022. He will also remain in an advisory role to ensure a smooth transition until the 30th of September after which he intends to retire.
Ms Lofthouse is currently ASX’s Group Executive Markets which is its largest business by revenue. The responsibilities of which include cash and derivatives trading, including equities, interest rates, commodities and energy products, and the benchmark’s business and international sales.
Ms Lofthouse joined ASX in September 2015 as a member of the executive leadership team. An accomplished financial markets executive with more than 20 years of experience in cash equity and debt markets, Lofthouse will become the company’s first female CEO.
Prior to joining ASX, Ms Lofthouse was based in London where she was a managing director at UBS. Before that she worked in various senior roles at JPMorgan.
ASX chair Damian Roche said:
“Given the high calibre of experienced candidates attracted to the position, we are delighted that the outstanding choice to lead ASX as its new CEO comes from within the organisation.
It is testament to Helen’s qualities and highlights the strength within ASX’s executive ranks. It also reflects the Board’s confidence in the strategy and performance of the company in recent years.
We look forward to the fresh ideas and enthusiasm Helen will bring to the role as our new CEO. Her appointment ensures a smooth and orderly CEO transition. ASX’s exciting future is in strong and capable hands.”
Despite this positive news, the ASX share price ended the day down 0.96% to $80.65 a share. Based on the current share price, ASX commands a market capitalisation of around $15.61 billion.