The Australian government named James Shipton as chairman of the Australian Securities and Investments Commission for a five-year period from Feb. 1, 2018.

The government intends to recommend the appointment to the governor-general in council, Minister for Revenue and Financial Services Kelly O'Dwyer said Oct. 17.

Shipton is currently the executive director of the Program on International Financial Systems at Harvard Law School. He previously served as an executive director at the Hong Kong Securities and Futures Commission.

Shipton will replace Greg Medcraft, whose term ends Nov. 12. Peter Kell, the current deputy chair of the Australian Securities and Investments Commission, will be acting chair until Shipton assume the role.