ASIC commissioner Sean Hughes will end his term on 3 February 2023, after accepting a role with Vanguard as Australian head of office of general counsel.

In a media release on Tuesday morning, the regulator said Hughes was due to end his five-year term on 1 December 2023. The appointment of an ASIC commissioner is determined by the Treasurer.

ASIC’s commission will continue to work via a whole-of-ASIC approach, with current members chair Joe Longo, deputy chairs Sarah Court and Karen Chester, and commissioner Danielle Press, working with the chief operating officer and the executive team.

In a separate media release from Vanguard, the financial services juggernaut said the new role which encompasses the legal and compliance functions of the business, and he will also join the Australian executive team.

Hughes has had previous senior positions with ASIC, including from 2008-2010 as senior executive leader for corporate governance and corporations. From 1999-2003, he held a number of senior executive roles including as director, financial services regulation.

He was also formerly group general counsel for Tabcorp, and chief risk and legal officer at UniSuper. Prior to this he was CEO of the Financial Markets Authority in New Zealand. He has also held leadership positions at NAB, ANZ and was a partner at the law firm Herbert Geer & Rundle (now Thompson Geer).

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