ASX promotes ex-CommBank exec to COO

Diona Rae ASX appointment COO

The Australian Securities Exchange (ASX) has announced the appointment of its next chief operating officer (COO), filling a three-month vacancy left following the departure Val Mathews in May.

Diona Rae, appointed in May to lead the ASX’s delivery and regulatory programs, will step up to lead the ASX’s operations function.

As COO, Rae will oversee the securities exchange’s enterprise customer and operations functions, including responsibility for project delivery, customer, brand and marketing, digital, and regulatory reporting.

ASX chief executive and managing director Helen Lofthouse noted that “Diona will also be responsible for executing our enterprise-wide customer strategy, working closely with our customers to improve our markets, products and services.

“This includes leading our ‘digital by design’ approach to making customer and people experiences frictionless and easy.”

Prior to joining the ASX, Rae served as the Commonwealth Bank’s executive general manager privacy program delivery, with the securities exchange acknowledging her role in transforming the bank’s privacy remediation program.

Before this, she was the chief controls officer for CBA’s enterprise services group, responsible for uplifting line one risk management for the technology and operations functions.

Rae steps into the role vacated by Val Mathews, who served just under two years as the ASX’s chief customer and operating officer (CCOO).

Earlier this year she was appointed as the ASX’s program director, delivery and risk as part of a newly created role designed to provide additional capacity for the exchange’s delivery and regulatory programs.

Lofthouse said: “Diona brings extensive experience in regulatory remediation programs and a proven track record delivering large, complex transformation, technology and risk programs. Her experience in transformation delivery will be invaluable for ASX as we start to move into the execution phase of our strategy.

“After joining ASX in early May 2023 as program director, delivery, to provide additional capacity and enterprise focus for ASX’s delivery and regulatory programs, her immediate focus as COO will be on continuing to uplift and enhance our delivery approaches and capabilities across the business.”