Sarah Court, the incoming head of Australia's corporate watchdog, will bring a "strong record in enforcement" to ASIC, outgoing chair Joe Longo says.
As the first woman to lead the Australian Securities and Investments Commission in its 35-year history, Ms Court will bring deep regulatory expertise to the role from her career of public service, Mr Longo said.
"Sarah is an exceptional regulator with a strong record in enforcement that demonstrates her integrity and impact," Mr Longo said.
Ms Court, who has acted as ASIC's deputy chair for almost five years under Mr Longo, was announced as his replacement by Treasurer Jim Chalmers on Monday night.
"Her work as ASIC’s deputy chair has been instrumental to the success of the agency’s structural transformation that has strengthened our enforcement posture and work, leading to better outcomes for consumers and a fairer financial system," Mr Longo said.
"ASIC will be in very capable hands under her leadership."
Together, they have overseen an overhaul of the regulator's internal processes and a significant step-up in enforcement action, commencing 252 investigations in 2024/25, up from 168 the previous financial year.
Ms Court said it would be business as usual until her appointment begins on June 1, and she was focused on working with Mr Longo on a smooth transition.
"ASIC’s work is critically important for all Australians and it will be a privilege to take on the role of Chair in June," she said.
"I want to acknowledge and thank Joe Longo not just for his work as chair helping transform ASIC into a modern, confident, ambitious and bold regulator, but also for his generous and unwavering support since we started at the agency together."
Dr Chalmers thanked Mr Longo for his "significant contribution" in strengthening ASIC's capability, his focus on consumer protection and his work on public and private markets.
As an experienced litigator and leader, Ms Court will make a positive impact on one of Australia's major regulators, Dr Chalmers said.
"Ms Court has more than 15 years' experience in senior statutory positions across various corporate regulators, a strong background in regulation, litigation, and enforcement, and deep expertise in upholding corporate standards and protecting market integrity," he said.
