2 May 2023: Long serving Teachers Mutual Bank Limited CEO Steve James has announced he will be retiring later this year.

After 44 years at Teachers Mutual Bank Limited, 18 of those years as the Bank’s CEO, Mr James will step down on Friday 29 September 2023.

A stalwart of the mutual banking industry, during his CEO tenure, Mr James has led the growth of the Bank from $1.5 billion to $11 billion, overseen five successful mergers and been an advocate for socially responsible banking – the Bank is B Corp certified and was most recently named one of the World’s Most Ethical Companies for 10 consecutive years.

Mr James said that he and the Board have been reviewing the organisation’s strategy and together feel this is an appropriate time for him to hand over the reins to a new CEO to take Teachers Mutual Bank Limited through its next phase of growth.

“I am incredibly proud of what Teachers Mutual Bank Limited has achieved during my 18 years as CEO and I leave with the fondest of memories knowing that I have led the Bank to be what it is today – a world-leading, socially responsible Bank that has always put our members first and continues to strive at all times to be a bank for good, for those who do good,” Mr James said.

“During my tenure as CEO, I have truly valued the people who I have worked alongside and I thank them for their support. It has been working with and seeing the development of people that I have enjoyed the most during my 18 years as CEO.

“Whilst there is a mixture of sadness and excitement about retiring, I am looking forward to the next phase of my life. Teachers Mutual Bank Limited has an exciting future ahead and I have every confidence in the future success of the Bank.”

Teachers Mutual Bank Limited Chairperson Ms Maree O’Halloran praised Steve’s unwavering commitment and dedication to the Bank, its staff and members.

“Under Steve’s leadership, Teachers Mutual Bank Limited has been profitable, socially responsible and committed to our members. Steve has modernised the Bank and achieved sustained growth while maintaining sound operational management.” Ms O’Halloran said.

“In recent years, Steve has managed the Bank’s performance during the disruption caused by the COVID-19 pandemic, ensuring Teachers Mutual Bank Limited continued to operate to our high standards and put our members at the heart of everything we do.

“Steve has been an integral part of Teachers Mutual Bank Limited shaping and maintaining the strength, security and sustainability of the Bank. He will be missed by many within the Bank and in the mutual banking sector and retires with the warmest of wishes and thanks from myself and the Board.

“The Board has recently commenced an executive search for Steve’s successor through executive recruitment firm Spencer Stuart and, we are committed to ensuring a smooth transition for our people and our members.”