Australia stock exchange hunts for new chief as lawsuit, regulatory lapses loom
CNA
SYDNEY, March 2 : As a change of guard looms over the embattled Australian stock exchange, the new chief's debut will be anything but smooth with a lawsuit linked to revamping a trade settlement system and a number of regulatory issues clouding its outlook. Last month, ASX Chief Executive Helen Lofthouse said
SYDNEY, March 2 : As a change of guard looms over the embattled Australian stock exchange, the new chief's debut will be anything but smooth with a lawsuit linked to revamping a trade settlement system and a number of regulatory issues clouding its outlook.
Last month, ASX Chief Executive Helen Lofthouse said she would leave the bourse in May after 11 years, four of those in the top job. A search for a new CEO, led by a global headhunting firm, is underway.
Investors and local market participants say the new CEO will face an uphill battle in restoring the exchange's credibility as regional and global bourses compete to attract new listings and more institutional investors.
The change in leadership at the Australian exchange also comes at a time of greater worries about the strength of global financial market infrastructure because of rapidly evolving technologies and growing trading volumes.
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