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HSF lawyer appointed ASIC chair
A Perth-based senior adviser at Herbert Smith Freehills, who specialises in global banking and financial regulation, is set to become the new chair of ASIC.
Lachlan Maddock and Jerome Doraisamy
Joe Longo – who formerly served as the national director of enforcement for ASIC – will become the new chair for the corporate regulator. ASIC confirmed the appointment to Lawyers Weekly’s sister brand, InvestorDaily.
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Mr Longo was the general counsel for Deutsche Bank in APAC, UK and EMEA, and currently works for global law firm HSF as a special adviser in its Perth office.
He takes over from James Shipton, who resigned from the regulator following an expenses scandal. An independent inquiry cleared him of any wrongdoing.
ACCC commissioner Sarah Court, a former senior executive lawyer with the Australian Government Solicitor, is set to become the deputy chair of ASIC.
In a statement, Mr Shipton congratulated both Mr Longo and Ms Court on their respective appointments.
“Joe is known to many at the agency from his time as National Director of Enforcement from 1996-2000 and subsequent interactions as a lawyer at Herbert Smith Freehills. His wealth of domestic and international experience will serve ASIC well in the vital work it does in supporting the financial system and economy, especially as Australia recovers from the downturn caused by the COVID-19 pandemic,” he said.
“We are also pleased to welcome Sarah Court, who joins as Deputy Chair from the Australian Competition and Consumer Commission (ACCC). Again, we know Sarah very well and appreciate the skill and experience she brings from our regulatory counterpart.
“We will work with Joe and Sarah over the coming weeks to manage a smooth transition to his leadership of the organisation.”
HSF’s website notes that Mr Longo “brings deep global financial services and regulatory insights to the Australian market and has an intimate understanding of the challenges faced by banks and corporates when addressing cultural, governance and regulatory issues”.
“In addition, having worked in the global banking sector for many years, Joe has navigated multi-jurisdictional investigations and regulatory enforcement activity across the full range of financial services products,” it said.
