BT formalises closer ties with Principal
The asset management arm of the BT group will be re-branded in the coming months to Principal Global Investors (PGI) as part of the global integration of Principal andBT Funds Management.
The changes, announced as part of a report into the funds management group by theAssirtresearch house, follow the appointment in April of Jim McCaughan to the newly created role of global head of asset management for the Principal Financial Group.
According to Assirt, since his appointment, McCaughan has been working towards building Principal’s various global subsidiaries into a global asset management business, a process that includes the integration of BT Funds Management into the Principal group.
As part of the global restructure, Principal will relocate over the next six months a number of its international equity analysts, including a number of Australian analysts, to both London and New York.
The group has also announced the appointment of Rollie Woltjen, who will take up the role as head of global equities. Woltjen was previously the chief executive officer for US fund manager, Invista. He will be responsible for creating unified global research for the integrated international equities team.
Also as part of the restructure, BT’s current head of global equities, Paul Durham, will become the director of non-US equities and report to Woltjen. Paul Dow, also from Invista, will become director of US equities.
Assirt says the Principal strategy will give BT’s distribution arm, which will keep the BT Funds Management name, the ability to focus more on open architecture.
The research house also says the change in name for BT’s asset management arm will allow the group to keep the business separate from other parts of its operation, providing BT with greater flexibility in the acquisition or the sale of assets.
Recommended for you
While crypto continues to gain traction among investors globally, improving accessibility for financial advisers is key to helping them serve the demand from younger clients, but there are some barriers still hindering adoption.
Investment platform Praemium has reported strong 2024–25 financial year results, with large increases across a range of business metrics, which it credits to the firm’s strategy and high-net-worth focus.
Alternative investment manager Regal Partners has set a target of doubling its offshore funds under management within three years amid strong inflows from offshore investors in the first half of 2025.
Fitzpatricks Advice Partners has formed a strategic alliance with two chapters of a global business support and networking organisation, expanding its offering for the firm’s advisers.
