ASX Names New Leader for Technology and Data
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- Jamie Crank has been named ASX’s new Group Executive for Technology and Data.
- Crank brings over 20 years of industry experience, with notable roles at Chi-X Australia and the London Stock Exchange.
- He succeeds Dan Chesterman, who left in May 2023 after implementing significant changes at the ASX.
- Currently, the ASX is facing issues stemming from a failed attempt to re-platform its clearing and settlement system.
- Crank will manage ASX’s data products, data centre, connectivity services, and the enterprise data strategy.
New Leadership at ASX: Jamie Crank Assumes Leadership
The Australian Securities Exchange (ASX) has appointed Jamie Crank as its Group Executive for Technology and Data after a thorough three-month selection process. This decision reflects a strategic adjustment within ASX’s senior management as the entity continues to tackle a challenging technological environment.
Jamie Crank: A Seasoned Professional in the Exchange Industry
Jamie Crank is an experienced player in the financial markets landscape, offering over 20 years of expertise. His background features important positions at Chi-X Australia and the London Stock Exchange, giving him a robust insight into exchange functionalities. Joining the ASX in 2016 as a Senior Manager of Information Services, his elevation to the leading technology position highlights the confidence the organisation has in his capabilities.
Key Duties and Strategic Objectives
In his new capacity, Crank will be in charge of various essential operations. His responsibilities encompass managing the ASX’s data products, data centre, and connectivity services sectors. Additionally, he will spearhead the ASX’s enterprise data strategy and guide a team focused on developing new products and innovations. This position is crucial, especially as data’s significance in financial markets rises alongside the demand for efficient, dependable, and secure connectivity solutions.
Upcoming Challenges: The Aftermath of an Unsuccessful Re-platforming Initiative
Crank steps into his new position during a period of notable challenges for the ASX. The organisation recently had to halt its efforts to re-platform its clearing and settlement system utilizing digital ledger technology—an initiative that has not only hindered its technological goals but has also resulted in legal issues. The ASX is currently involved in legal proceedings stemming from the unsuccessful project, elevating the importance of Crank’s role as the organisation endeavors to regain stability and trust in its technology.
A New Chapter in Leadership
Crank’s predecessor, Dan Chesterman, initially served as Chief Information Officer before becoming Group Executive for Technology and Data. Throughout his tenure, the ASX experienced considerable transformations; however, the complications tied to the re-platforming effort have overshadowed his accomplishments. Crank’s appointment signals a likely shift in strategy as the ASX works to mend recent setbacks and prepare for future achievements.
Summary
Jamie Crank has been appointed as the Group Executive for Technology and Data at the Australian Securities Exchange (ASX). With a background spanning over 20 years in the financial markets sector, Crank enters a vital role amid substantial challenges facing the ASX, including the aftermath of a failed re-platforming project. His responsibilities encompass managing data products, the ASX’s data centre, and connectivity services, as well as fostering innovation and product development.
Q: Who is Jamie Crank?
A:
Jamie Crank is an established professional in the financial markets realm, boasting over 20 years of experience. He has held significant roles at prominent exchanges like Chi-X Australia and the London Stock Exchange. Joining ASX in 2016 as a Senior Manager of Information Services, he has now been promoted to Group Executive for Technology and Data.
Q: What will Jamie Crank be responsible for in his new position?
A:
In his newly appointed role, Crank will oversee the ASX’s data products, data centre, and connectivity services. He will also manage the ASX’s enterprise data strategy and lead a team dedicated to new product innovation and development.
Q: What challenges does Crank encounter in his new position?
A:
Crank faces notable challenges, particularly in light of the failed re-platforming project intended to revamp the ASX’s clearing and settlement system through digital ledger technology. The ASX’s decision to abandon the initiative has come with ongoing legal repercussions.
Q: What implications does Crank’s appointment have for the ASX?
A:
Crank’s appointment may indicate a strategic realignment as the ASX aims to recover from recent technological setbacks. His extensive experience in the exchange sector and comprehensive knowledge of ASX operations could be vital for addressing upcoming challenges and promoting future innovation.
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