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Stevens takes over as ASX CEO

AAP logoAAP 31/07/2016 Marty Silk

Dominic Stevens has taken over as managing director and chief executive of Australian Securities Exchange Ltd (ASX), following the resignation of Elmer Funke Kupper earlier this year.

Mr Stevens, has been an independent non-executive ASX director since 2013 and has served on its Audit and Risk committee and on a number of its clearing and settlement boards.

"I am excited by the opportunity and responsibility the board has given me to lead ASX. ASX does operate at the heart of Australia's financial markets. There is no organisation quite like it," he said in a statement on Monday.

Mr Stevens, who was CEO of Challenger from 2008 to 2012, takes over from ASX chairman Rick Holliday-Smith, who has been overseeing the business since Elmer Funke Kupper resigned as CEO and managing director in March.

"Dom's long involvement in financial markets, his experience as a CEO and his time as a director means the ASX Board is delighted and confident in making this appointment," Mr Holliday-Smith said.

"He is popular and highly-regarded by ASX's board, staff and major stakeholders. Dom is ideally qualified to lead the company and build on ASX's achievements."

Mr Funke Kupper's departure came as Australian Federal Police revealed they were investigating his previous employer, Tabcorp (TAH), amid allegations the gaming business was involved in foreign bribery in Cambodia.

Mr Funke Kupper is a former CEO of the gambling giant, and sat on Tabcorp's board up until March.

Meanwhile, Melinda Conrad, non-executive board member of both OzForex Group and The Reject Shop Ltd, has been appointed as a non-executive director of the ASX, which runs Australia's main securities exchange..

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