ASX confirms replacement for Funke Kupper

ASX's new boss was previously chief executive officer of a AUD $50 billion investment manager.

The Australian Securities Exchange (ASX) has confirmed that Dominic Stevens has been appointed as its new managing director and chief executive officer (CEO).

Stevens replaces Elmer Funke Kupper who stepped down in March amid a police investigation into an Australian betting company, based in Cambodia which he formally ran.

ASX today confirmed that it had ended its four month search for a new leader in a statement to the media.

Dominic Stevens is no stranger to ASX, having held an independent non-executive directorship with the exchange group since December 2013.  He has also served on the Audit and Risk Committee and on various clearing and settlement boards.

Stevens was previously chief executive officer of Challenger – a $57.4 billion asset management firm based in Australia. 

Prior to he served as a senior managing director at Zurich Capital Markets Asia and was a partner at Bankers Trust, where he had responsibility for the Australian derivatives and global metals and agricultural commodity derivatives businesses.

Rick Holliday-Smith, chairman of ASX, said: “Dom’s long involvement in financial markets, his experience as a CEO and his time as a director means the ASX board is… confident in making this appointment.  

“He is popular and highly-regarded by ASX’s board, staff and major shareholders.”