I am pleased to announce that Mr David Knott was today appointed by the Governor-General in Council as the new Deputy Chairman of the Australian Securities and Investments Commission.
Mr Knott will join Mr Alan Cameron and Ms Jillian Segal on the Commission. He replaces Mr Peter Day who resigned in January to resume a career in the private sector.
Mr Knott is currently the Chief Operating Officer of the Australian Prudential Regulation Authority (APRA) and a member of its Executive Committee.
Mr Knott will bring a strong mix of skills to the Commission. He worked in private legal practice, specialising in company and commercial law, before assuming senior roles in investment banking and public administration. He was the inaugural Executive Director of the Australian Financial Institutions Commission, established by the States and Territories to regulate credit unions, building societies and friendly societies. He then served as Chief Executive of Commonwealth Funds Management Limited. In his present position at APRA, Mr Knott has played a key part in the Authoritys formation, strategic planning and structuring. He is a Fellow of the Australian Institute of Company Directors.
The appointment will strengthen ASIC both in its traditional role as the corporate regulator and in fulfilling the broader responsibilities for investor protection it assumed from 1 July 1998 aimed at ensuring that the markets and their participants operate honestly, fairly and efficiently.
Mr Knott will take up his position in early July and be based in Melbourne. Additional biographical information is attached.