(Bloomberg) -- David Clarke will become chair at ASX Ltd., the operator of Australia’s main equities and derivatives exchange that’s battled with a years-long upgrade of its clearing and settlement technology system.
Clarke assumes the role on Oct. 28, when current chair Damian Roche will retire, according to a statement Wednesday. Clarke has held senior roles at Westpac Banking Corp. and ran Investec Bank (Australia) Ltd. earlier in his career. He’s currently also chair of Charter Hall Group.
The length of Roche’s tenure at the firm had been in question in recent months. ASX is being sued by the securities regulator for misleading statements relating to a costly overhaul of a key system that’s hit a number of snags in recent years.
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