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Mutual bank welcomes new board directors

Teachers Mutual Bank Ltd has welcomed new directors to its board and bid farewell to John Kouimanos, who has retired from the board after 40 years.

The customer-owned banking group has welcomed several new members to its board in recent months, as it supplements the experience of its existing independent, non-executive directors.

Murat Dizdar PSM is the latest addition to the board, after having been appointed in January 2021.

Mr Dizdar has been a leading player in the education sector and is currently the Deputy Secretary, School Performance – South at the NSW Department of Education, where he oversees the provision of public education for students in over 2,200 schools. He also presides over the Bushfire Strategy, which supports communities devastated by the 2019/2020 fires, and the Connected Communities directorate, which strengthens the educational outcomes for Aboriginal students.

Verity Firth, executive director of the Centre for Social Justice and Inclusion at the University of Technology Sydney, was also elected to the board by member vote in November 2020.


Ms Firth has over 15 years of experience in government and the not-for-profit sector and has been working in the education sector for over a decade. She was previously Minister for Education and Training in New South Wales (2008-2011) and was the CEO of the Public Education Foundation. 

Andrew Kearnan and Melissa Reynolds were appointed to the board in September 2020.

Mr Kearnan joins the board, having previously held a number of executive and board positions at leading financial institutions, including Bank of America Merrill Lynch, Commonwealth Bank of Australia and Hollard Insurance. He is also now chair of the Audit Committee at Teachers Mutual Bank Ltd.

Ms Reynolds has more than 30 years’ experience in the financial services, energy and media sectors. The bank noted that her “deep expertise in customer, product, marketing, digital and transformation” would be a “real asset” to the board as it continues to evolve its strategy. She is also a member of the remuneration committee and the risk & compliance committee.

The chair of Teachers Mutual Bank Ltd, Maree O’Halloran, commented: “We are very pleased to welcome the new directors to our board.


“Each director brings unique skills and experience, which we look forward to drawing on to continue the strong growth of our mutual bank. The directors’ skills in education, finance, digital and marketing will be a real asset as the bank continues to transform to a digital-first strategy.” 

Teachers Mutual Bank Ltd CEO Steve James added: “I’m delighted to have the opportunity to work closely with the directors of the Teachers Mutual Bank Ltd board in growing the bank, providing superior value for our members, and continuing our commitment to being a leader in socially responsible banking.”  

The new appointments follow the retirement of John Kouimanos, who served on the Teachers Mutual Bank Ltd board for over 40 years, including 11 years as chair.

The bank thanked Mr Kouimanos for his long service and “passion for education and mutual banking”, stating that he was instrumental in “steering the growth of the bank”, thanks to his passion for education and mutual banking.

[Related: Two lenders announce merger]

Mutual bank welcomes new board directors
Mutual bank welcomes new board directors

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

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