The Australian Securities Exchange (ASX) announced on Tuesday the appointment of Andrew Tobin, who will join the stock exchange on 5 September 2022 as the new Chief Financial Officer. He will replace Gillian Larkins who resigned from the post.
Additionally, ASX pointed out that with Tobin onboard, the company’s strategy function division will move under the CFO portfolio.
“Andrew is an accomplished CFO and executive leader with more than 30 years’ experience in various group finance and audit roles in Australia and Asia. He is an excellent addition to our team,” said Helen Lofthouse, ASX’s Managing Director and CEO.
“His ability to think strategically and commercially, his partnership approach, and extensive expertise in financial markets and listed companies will add depth to the Executive Team and enhance our leadership culture.”
Tobin is joining the Sydney-based exchange from Challenger Limited, a financial services firm, where she spent more than 13 years and the last nine years as the CFO. Before that, he was with Commonwealth Bank for five years, first as the General Manager of Enterprise Initiatives and then Finance, Premium and Business Services.
He started his career in the financial industry in 1987 with KPMG, one of the big four audit firms, and worked with MLC Australia and Landlease.
Leadership Changes
ASX, which is the largest stock exchange in Australia, has seen several top executive departures recently. Apart from Larkins, the exchange’s long-running CEO, Dominic Stevens departed and was replaced by Lofthouse earlier this month. Additionally, its Head of Listings, Max Cunningham parted last April.
Meanwhile, ASX is under regulatory scrutiny for a day-long outage in November 2020 due to technical issues. ASIC imposed additional conditions on ASX’s license after that and recently asked the trading industry players to build a system that can provide services even during market outages.
