ASX
ASX:ASXUnverifiedReported Offshore Headcount
100+
reported 1 Jan 2024 — ASX signs agreement with TCS for CHESS replacement
Estimated % of Workforce
~7%
illustrative — not directly reported by the company
Destination Countries
Financial Context
Market Cap
$14.0B
Revenue
$1.1B
Net Profit
$500M
Estimated Wage Differential
~$9M/yr
CEO
Helen Lofthouse
CEO Total Pay
$3,800,000
CEO earns
35x the average Australian worker
avg Australian salary $110K+/yr
Illustrative wage differential: if the 100+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$9M/yr (~1.8% of reported net profit). This is an estimate based on industry averages, not company-specific data.
Would this company be profitable without offshoring?
Financial data: FY2024. Estimate uses avg AU cost of $110,000+/yr (salary only, excluding super, office, recruitment) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.
In Plain English
- In 2024, ASX was reported to have 100+ offshore contractors and staff.
- This represents ~7% when compared to its current workforce of 1,438 (illustrative comparison only — not directly reported by the company).
- Known outsourcing partners include Tata Consultancy Services.
Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.
Consultancy Engagements
| Vendor | Type | Contract Value | Status |
|---|---|---|---|
| Tata Consultancy Services | Managed Services | — | Confirmed |
Financial Services Peers
How ASX's known offshore percentage (7%+) compares to reviewed financial services peers.
| Company | ASX | Known Offshore* | Offshore Destinations |
|---|---|---|---|
| AUB Group | AUB | None found | - |
| Challenger | CGF | None found | - |
| Generation Development Group | GDG | None found | - |
| GQG Partners | GQG | None found | - |
| HUB24 | HUB | None found | - |
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“The ASX selected India's Tata Consultancy Services (TCS) to rebuild its CHESS clearing and settlement platform, after an earlier blockchain-based attempt with Digital Asset Holdings failed and was written off at a cost of $250 million.”