Opportunity lies in private banking, says BT
BT Financial Group has appointed Jane Watts as general manager of Westpac Private Bank, following the departure of Jan Swinhoe.
Watts joins Westpac Private Bank after eight years at Macquarie Private Wealth. BT Financial Group chief executive Brad Cooper said there was a “real opportunity” around wealth management in the high-net-worth segment.
“The private banking industry in Australia is still in a rapid state of evolution and our momentum is centred on delivering a broader suite of services that is more aligned to the needs of our high-net-worth clients,” he said.
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BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
