(17 October 2007 – Australia) Westpac has announced the leadership team for the proposed initial public offering of BT Investment Management.Westpac has said that the float is on track and, subject to market conditions and regulatory approvals, was expected this year.
The spin-off business will include Brian Scullin as independent chair and non-executive director.
Gavin Walker will become an independent non-executive directory while Carolyn Hewson and Rob Coombe will be Westpac nominated non-executive directors.
BT Investment Management’s chief executive and chief investment officer, Dirk Morris, will also join the bid.
The float, which was first announced in August 2007, will not include other areas of BT Financial Group’s wealth management business, which includes financial advice, insurance, private banking and customer solutions.