ASX appoints new CIO

The Australian Securities Exchange (ASX) has recruited Credit Suisse Canada’s head of IT, Tim Thurman, as its next chief information officer.

Thurman replaces Jeff Olsson, who resigned in January after 15 years at the company.

Prior to joining Credit Suisse in May 2010, Thurman worked at IBM, Alpha Trading Systems and the Toronto Stock Exchange (TSX).

He will join the ASX in mid-June, managing 160 staff who work on markets, corporate, clearing and settling technology, and infrastructure.

The ASX said today that Thurman’s appointment coincided with its $35 million Australian Liquidity Centre, which was now “fully operational and the primary site for all ASX co-location and exchange systems”.

“We are delighted that Tim Thurman is joining ASX at a time when technology is playing an ever greater role in delivering high quality exchange services to our customers,” said ASX managing director and chief executive officer, Elmer Funke Kupper.

“Tim brings to ASX a unique set of experiences, having worked for a major exchange group, an alternative trading system and exchange clients.

“He has a track record of successfully leading technology teams and managing complex regulatory processes, and will add a valuable international perspective to ASX’s forward strategy.”

Technology executives from Asian exchanges and Australian banks were rumoured to have been considered for the job.