ASX Limited (ASX) has announced the appointment of Wayne Byres as a non-executive director to its Board. Damian Roche, Chair of ASX Limited, unveiled the appointment today (Monday), highlighting Byres' background in financial services regulation, risk management, governance, and public policy both nationally and internationally.

ASX Board Sees Changes

Byres brings to the table over three decades of expertise, having held prominent supervisory positions including his tenure as the former Chair of the Australian Prudential Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term Authority (APRA) and as the Secretary General of the Basel Committee on Banking Supervision.

Simultaneously, ASX confirmed the impending retirement of Yasmin Allen from the Board, with her departure slated for the conclusion of the September Board meeting. Allen, who has served on the ASX Board since February 2015, earned accolades from Roche for her steadfast dedication and invaluable contributions, characterized by a keen commercial perspective and shareholder-centric approach.

Roche said: “I want to thank Allen for her many years of diligent service where she always brought her commercial lens and the shareholder view to the boardroom. The Board and I have benefited from her experience, judgment and counsel.”

From Basel Committee to Macquarie Bank Directorship

Byres' career trajectory highlights his status as a respected figure within the financial services landscape, having held pivotal supervisory roles in Australia and abroad. Presently serving as an expert advisor to the International Monetary Fund, Byres previously chaired APRA for eight years until 2022. His multifaceted experience includes membership on the Reserve Bank of Australia's Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term System Board and the Australian Council of Financial Regulators.

Before assuming the role of APRA Chair, Byres served as the Secretary General of the Basel Committee on Banking Supervision, where he played a pivotal role in navigating international negotiations on post-Global Financial Crisis banking reforms. His professional journey encompasses senior leadership roles at APRA, the Reserve Bank of Australia, and the Bank of England.

Byres' recent appointment as a non-executive director of Macquarie Bank Limited in February 2024 further underscores his stature as a trusted authority in the financial sector. He joins a select cohort of bank-only, non-executive directors within the Macquarie Group, solidifying his influence in shaping industry best practices.

Byres holds the distinction of being a senior fellow of the Financial Services Institute of Australasia and is a graduate of the Australian Institute of Company Directors.