Mr Vance was most recently the group executive of financial crime, compliance and conduct at Westpac, responsible for the remediation and transformation of its management of financial crime and the group’s transformation, required under its APRA enforceable undertaking.

He brings more than 20 years of corporate experience, having held senior roles including COO of Westpac’s consumer division, chief risk officer at BT Financial Group (part of the Westpac Group), COO at Investa Property Group, general counsel at Tab Limited and partner at Herbert Smith Freehills.

Reporting to PEXA’s group managing director and chief executive Glenn King, Mr Vance will be responsible for the enablement of a regulatory environment that reflects PEXA’s deep commitment to consumers and community, extending through to the group’s legal function as well as product, pricing, enterprise governance and delivery.

“Les is an incredibly credentialed executive, having worked in several senior roles across risk, transformation, legal, operations, investments and business partnering. Having also worked across both the banking and legal sector, he is a tremendous fit for our business,” Mr King said.  

“Likewise, I’m extremely grateful for the significant contribution Simon has made to date and I’m pleased he remains part of the team, continuing his ongoing support and contribution to PEXA. PEXA is a world-leading initiative, and it is a testament to the team and the culture we’ve built that we attract talent of Les’ calibre.”

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Commenting on his new role, Mr Vance added: “PEXA has fundamentally transformed the way property transactions are settled across Australia. I’m excited by the opportunity to be part of building on that and delivering the growth from this next phase of PEXA’s strategy.”