Frydenberg names new ASIC deputy chair

The woman who has been integral to the Productivity Commission’s sometimes controversial examination of the competitiveness and efficiency of superannuation, Karen Chester, has been appointed as the new full-time deputy chair of the Australian Securities and Investments Commission (ASIC), replacing Peter Kell.

Chester’s appointment was announced by the Treasurer, Josh Frydenberg who noted that Chester had previously been a partner at Mercer and the chief executive of Access Economics.

The Treasurer also noted that Chester had been chair of the 2015 expert panel which undertook a four-month capability review of ASIC resulting in a number of key changes aimed at strengthening the regulator.

Frydenberg’s formal statement said Chester’s appointment had followed “the Government’s significant investment in the leadership of ASIC with the appointment of the new ASIC chairman, James Shipton and deputy chair, Daniel Crennan QC who had a key focus on enforcement.

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He also noted the appointment of additional commissioners, Danielle Press and Sean Hughes.