Chalmers taps Treasury, CBA and CHOICE for ASIC jobs

The news: Federal treasurer Jim Chalmers has appointed three new commissioners to the Australian Securities and Investments Commission.

First assistant secretary at Treasury Katherine O'Rourke, CBA's chief risk officer Simone Constant and CHOICE chief executive Alan Kirkland will replace Danielle Press, Sean Hughes and Karen Chester.

The context: O'Rourke previously worked at ASIC from 2003 to 2017 on fundraising, mergers and acquisitions, corporate governance and regulatory policy. Kirkland was a member of several of ASIC's consultative panels, including on the Ramsay Review, which preceded the establishment of the Australian Financial Complaints Authority. Constant has experience in financial services and risk management, and is a former deputy secretary for NSW Treasury.

What they said: "These commissioners will ensure our corporate watchdog maintains a strong, fair, efficient and innovative financial system that delivers good outcomes for consumers and investors," said Chalmers.