THE ERSTWHILE chief executive partner of Mallesons Stephen Jaques, Tony D’Aloisio, is due to be appointed the next Australian Securities and Investments Commission (ASIC) commissioner next month.
Jeffrey Lucy, chairman of ASIC, welcomed the Treasurer, Peter Costello’s announcement of the proposed appointment of D’Aloisio as ASIC commissioner.
“[D’Aloisio] is a highly respected Australian and brings a strong business and legal background to the Commission,” Lucy said.
“In particular, his previous experience as managing director and chief executive officer of the Australian Stock Exchange, chief executive partner at [Mallesons] and as a company director means that he is well-equipped to make a significant contribution to the Commission.”
After serving as the head of the body formed from the merger of the Australian Stock Exchange and the Sydney Futures Exchange for only 20 months, D’Aloisio was replaced by Robert Elstone. Although the victim of shareholder revolt, D’Aloisio left with a substantial payout of $7.8 million.
At this stage, D’Aloisio’s Sydney appointment is due to begin on 22 November 2006. His tenure as a full-time member, or commissioner, of ASIC will last for three years, to be recommended by the Government on 1 November.
“I am confident that [D’Aloisio’s] appointment will receive widespread support from ASIC’s many stakeholders,” Lucy said.
The announcement by Costello follows consultation with members of the Ministerial Council for Corporations.
“[D’Aloisio] has extensive public and private sector experience and has been involved in business policy and regulation,” Costello said.
“[His] mix of skills and commercial experience will be of particular benefit to ASIC and will complement and further strengthen the current ASIC team, comprised of chairman Jeffrey Lucy and deputy chairman Jeremy Cooper.”
The proposed appointment follows the resignation of Professor Berna Collier in February of this year.