Accepting a commissioner appointment at the Australian Securities and Investments Commission is not recommended for those seeking careers on a top-tier board.
As the government moves into the final phase of picking a new chairman of the Australian Securities and Investments Commission to replace Joe Longo, it is worth asking why big business has, for decades, shunned the enforcement agency’s alumni.
None of the 19 people who have served as ASIC commissioners since 2005 have joined the boards of the top 50 Australian companies, or, for that matter, the top 100, despite 80 per cent of them having prior commercial experience.
