Today the Australian Securities Exchange (ASX) announced that Deputy CEO Peter Hiom is leaving on July 1. He wants to focus on fintech and blockchain and hence will be joining investment firm Motive Partners. Hiom led the distributed ledger technology (DLT) project to replace the ASX CHESS settlement system, which is due to go live in April 2023.
ASX was ahead of the game when in 2016, it decided to adopt blockchain for the CHESS replacement. It partnered with startup Digital Asset, at the time headed by JP Morgan veteran Blythe Masters, who is now a partner at Hiom’s new employer Motive Partners. Masters is also CEO of MOTV.U a special acquisition vehicle (SPAC) launched in December 2020 with $414 million to spend on the fintech sector.
The stock exchange emphasized that responsibility for the delivery and governance of ASX’s CHESS replacement continues with Tim Hogben. He was with the project from the start and took over day-to-day management when the project entered the delivery phase in October 2020.
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