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New Chairman and Deputy Chair for the Australian Securities and Investments Commission



Treasury Press Release NO.105


(Taken from the website of the Treasurer)

I am pleased to announce that the Governor-General in Council has today appointed Mr David Knott as the new Chairman of the Australian Securities and Investments Commission (ASIC) and Ms Jillian Segal as the new Deputy Chair. The appointments take effect from 18 November 2000.

Mr Knott, who was previously Deputy Chairman, replaces Mr Alan Cameron, AM who will complete an 8 year term as Chairman on 17 November.


Mr Cameron was first appointed Chairman of the then Australian Securities Commission in January 1993. Under his leadership, the Commission has cemented its reputation internationally and within the Australian business community as a leading securities regulator. This has been achieved at a time of significant change affecting both its traditional role as corporate regulator and the new responsibilities for investor protection and financial market integrity it assumed in 1998.

I want to place on record the Government's appreciation for the substantial contribution Mr Cameron has made to ASIC and to Australia during his period as Chairman.


Mr Knott brings a wide range of skills and experience to his new position. He spent 13 years in private legal practice, specialising in company and commercial law, before assuming senior roles in investment banking and public administration. In 1992 he became inaugural Executive Director of the Australian Financial Institutions Commission, which was established by the State and Territory governments to regulate credit unions, building societies and friendly societies. He then served as Chief Executive of Commonwealth Funds Management before being appointed Chief Operating Officer of the Australian Prudential Regulation Authority in 1998. He has been Deputy Chairman of ASIC since July 1999.

Prior to Ms Segal's appointment as a member of ASIC in October 1997, she worked in private legal practice specialising in corporate and environmental law. She has also been a company director with particular experience in the financial services sector and a member of the Legal Sub-committee of the Companies and Securities Advisory Committee.

Mr Knott will continue to be based in Melbourne while Ms Segal will be based in Sydney. Additional biographical information is attached.
The Government is currently considering the filling of the position of full-time member previously occupied by Ms Segal.

CANBERRA
9 November 2000



DAVID WILLIAM KNOTT


After graduating in law from Melbourne University in 1970, David Knott spent 13 years in private practice, specialising in company and commercial law. He was appointed to the partnership of Arthur Robinson & Co (now Arthur Robinson & Hedderwicks) in 1976.
Mr Knott subsequently moved to the investment banking sector where he occupied leading corporate finance roles for a decade. He was appointed Senior Executive Director of Capel Court Corporation in 1986 and was responsible for the group's mergers and acquisitions business.

Since 1992 Mr Knott's career has centred on public administration. He was the inaugural Executive Director of the Australian Financial Institutions Commission which was established by State and Territory governments to regulate credit unions, building societies and friendly societies. He then served for a short period as Chief Executive of Commonwealth Funds Management pending its sale by the Commonwealth.

In 1998 Mr Knott was appointed to assist with the establishment of the Australian Prudential Regulation Authority in Sydney. As Chief Operating Officer he played a primary role in APRA's formation, strategic planning and structuring.

Since July 1999, he has been Deputy Chairman of the Australian Securities and Investments Commission - one of three full-time Commissioners involved in the senior management and administration of the Commission. He has been based at the Commission's Melbourne office.


JILLIAN SHIRLEY SEGAL


Jillian Segal is a lawyer specialising in corporate and environmental law.

Ms Segal spent 17 years in private legal practice, becoming a partner of Allen Allen and Hemsley in 1986 and a consultant to the firm in 1993. In 1996 she became a special counsel with Dunhill Madden and Butler.

During this time she was also a company director with particular expertise in the financial services sector.

Since October 1997, Ms Segal has been a Sydney-based member of the Australian Securities and Investments Commission.


Among Ms Segal's other interests, she was a part-time lecturer at the University of New South Wales, a Professorial Fellow in the Faculty of Law at the University of Wollongong and a member of the Legal Sub-committee of the Companies and Securities Advisory Committee.


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