DomaCom CEO’s sudden exit triggers new appointment

Yasmine Raso

Senior Journalist, Financial Newswire

5 March 2024

Managed investments platform provider, DomaCom, has appointed banking veteran Steven James as its new acting chief executive, after John Elkovich handed in his immediate resignation.

In a statement to the Australian Securities Exchange (ASX) on Monday morning, the company said Elkovich had resigned as Chief Executive Officer due to personal reasons. He was appointed to the top role in April of 2022.

Also a Non-Executive Director of DomaCom since April 2023, James brings over three decades of experience in financial services and banking to the role, having enjoyed senior positions at Commonwealth Bank of Australia, National Australia Bank, Westpac, Deutsche Bank and Bank of America. He also has experience in FX trading, financial planning and stockbroking, currently working as a Director for specialist strategic advisory, Aston Consulting.

The statement said James’ expertise in marketing, product distribution, digital transformation and corporate governance will be useful to the company as it looks to drive its growth strategy and meet environmental, social and governance (ESG) responsibilities.

“We are very pleased to have a person of Steven’s experience to take over as CEO at this important time for the company,” DomaCom Chairman, John Hewson, said.

“His detailed knowledge of capital raising, marketing, product distribution and digital transformation will be drawn upon as DomaCom continues to progress its growth strategy.

“We would also like to thank John Elkovich for his work over the last two years. In particular, we thank him for overseeing a significant increase in funds under management and the complete rebranding of the business.

“We are sad to see him go and we wish him well in his future endeavours.”