ASX re-establishes dedicated CIO position

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ASX re-establishes dedicated CIO position

Puts sharper focus back on enterprise technology.

The Australian Securities Exchange (ASX) will create a standalone enterprise technology division and CIO role, carving the responsibilities out of a formerly broader division and remit.

The market operator said it would split the role of "group executive, technology and data and CIO", currently held by Dan Chesterman, into separate 'technology and data' and CIO positions.

Chesterman initially joined as standalone CIO back in 2017 before ASX added additional duties to the role in July 2021. 

He will now take up the 'technology and data' executive role, leaving the CIO position open.

ASX CEO Helen Lofthouse said in a statement said the renewal of a standalone CIO role "creates a single point of senior executive focus and accountability for delivering ASX’s enterprise-wide technology renewal program."

Lofthouse added that the CIO would “focus on ensuring system resilience across ASX, and the delivery of multi-year technology transformation programs.”

The exchange said the move is not intended to influence the delivery of ASX’s CHESS core replacement solution design, which will stay under the guidance of technology transformation project director Tim Whiteley.

ASX abandoned a blockchain-based CHESS core system replacement and has since acknowledged further transparency will be needed to regain stakeholder trust in the technology direction of the program.

It has since gone back to basics with its replacement strategy, under the watchful eye of the Reserve Bank of Australia and ASIC.

ASX is currently recruiting for the new standalone CIO role.

Until it can find someone, Chesterman will continue to also hold CIO responsibilities.

Once he is able to focus more on 'technology and data', Chesterman will move to focusing on “important strategic initiatives” including “expanding customer access to ASX’s rich data sets”.

“The change ... provides focused leadership for our technology and data business which is charged with maturing ASX’s enterprise data capability and growing ASX’s technical and data products and services," Lofthouse said.

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