Teachers Mutual Bank (TMB) has appointed Dan Chesterman, former tech chief of the Australian Securities Exchange (ASX), as chief information officer.

Chesterman replaces Christopher Olter in the senior technology role.

TMB confirmed Olter, who was appointed CIO in August 2023, left the business at the end of January this year after announcing his resignation in late 2024.

TMB Limited chief executive Anthony Hughes said Chesterman joins at a “pivotal time” for the mutual bank as it undergoes a major transformation and modernisation program – a first-order priority for the new CIO.

“His experience in establishing and delivering successful technology outcomes for highly regulated businesses will be invaluable as we undertake this program of work and continue to deliver great outcomes for our members,” Hughes said.

TMBL recognised Chesterman’s more than three decades of technology and transformation experience across financial services and consulting services, including his most recent role as CIO and group executive, technology and data at the ASX.

As head of the ASX’s technology and data function, Chesterman oversaw the Exchange’s suite of data functions and services, including its data centre and connectivity services businesses and enterprise data strategy, as well as development and innovation of its various data products, including market data, reference data, benchmarks and indices, and DataSphere.

Serving as the ASX’s CIO between 2017 and 2023, Chesterman led the delivery of technology solutions and services aligned with its business strategy.

He departed the Exchange last May after seven years.

Previously, Chesterman served more than a decade with the Commonwealth Bank’s CommSec & Private Bank, including as CIO and a stint leading the bank’s International Financial Services businesses in Asia.

Chesterman, commenting on his latest appointment, said he was drawn to TMBL’s “clear purpose and focus on members”.

“I am passionate about the potential of technology and data to shape our world. I’m looking forward to bringing my experience to the bank, at such an important time for our member-owned bank and the mutual sector,” he said.

Chesterman commences with TMBL on 14 April.