BT sharpens multi-manager focus
BT Financial Group has followed up plans to provide investors, through the Westpac adviser channel, with a more extensive multi-manager product range by creating and filling a new executive role to drive the initiative.
The group has appointed former Queensland Investment Corporation (QIC) head of international equities, Stewart Brentnall, into the new position of head of investment manager selection.
In the role Brentnall will be responsible for developing a multi-manager product range for distribution through Westpac’s financial planning network and for selecting, monitoring and managing fund managers and asset consultants engaged by BT.
In addition, Brentnall’s investment manager selection team will become an integral part of managing the ongoing relationships with BT’s four alliance partners - Putnam Investments, New York-based fixed income manager BlackRock, Boston-based property group AEW Capital Management and UK-based property manager Grosvenor Group.
The appointment, according to product operations and customer relations head, Jason Yetton, reflected BT’s commitment of allowing investors easy access to leading investment managers and their products, both in Australia and globally.
BT has over $13 billion of investor monies allocated to external managers, and Yetton said this appointment would hopefully allow the investment firm to become a key deliverer of multi-manager products to the retail, wholesale and corporate super markets.
As for Brentnall, who has more than 15 years investment experience, prior to his time with QIC he was global head of financial sector equity research with Schroder Investment Management before joining Goldman Sachs International as executive director, global investment research.
BT aims to have the division’s structure and responsibilities finalized over coming weeks with the team scheduled to be fully operational by early 2005.
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