The Australian Securities Exchange (ASX) is establishing a separate technology division, appointing a dedicated chief information officer (CIO) to lead it.
The exchange operator is dividing the current role of group executive for technology and data, which is presently held by Dan Chesterman. Chesterman will shift his focus to managing the customer-facing technology and data business, the fastest-growing segment of the exchange.
The new CIO will report directly to CEO Helen Lofthouse and will concentrate on ensuring system resilience across ASX while overseeing the implementation of long-term technology transformation programs. Lofthouse stated, “This change establishes a singular point of executive oversight and accountability for our comprehensive technology renewal initiative, while also offering targeted leadership for our technology and data business, which is tasked with enhancing ASX’s enterprise data capabilities and expanding our technical and data products and services.”
She added that the adjustments will provide Dan Chesterman and his team with more capacity to concentrate on data and technology innovation, as well as to advance enterprise data capabilities in areas like data science, analytics, information services, data governance, and the ASX data platform.
These leadership changes will not impact ASX’s ongoing challenges with the replacement of the Chess post-trade settlement system, which is being overseen by project director Tim Whiteley. In November, ASX officially canceled the long-delayed blockchain-based Chess replacement project, incurring a write-off of approximately A$250 million.
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