New deputy chair of ASIC

Treasurer Josh Frydenberg has announced the appointment of Karen Chester as a full-time Deputy Chair to the Australian Securities and Investments Commission (ASIC).

Chester has been the Deputy Chair of the Productivity Commission since May 2016, having been appointed a Commissioner in December 2013. During this time, she has presided on over 10 Inquiries and projects including the Commission’s three stage review of the superannuation system.

Prior to the Productivity Commission, Chester was a Partner at Mercer and Global Head of Infrastructure. Before joining Mercer, she was a Partner at Access Capital Advisers and the CEO of Access Economics. She has a first class honours degree in Economics from the University of Queensland and was awarded an honorary doctorate in Economics by the University in 2017.

Frydenberg said that given Chester’s experience chairing a panel that undertook a four-month capability review of ASIC, she has developed a “deep expertise on ASIC’s role and capabilities.” She undertook that review in 2015.

Chester will commence with ASIC for a five year period from 28 January 2019, replacing Peter Kell.