(Australia) – Troubled funds group BT has appointed Crispin Murray as its new head of equities following the departure of Andrew Brown last week.Brown had held the role since BT and Sagitta Wealth Management were bought and merged by new owner, Westpac Banking Corp.
New chief Murray comes to the role from the BT side of the business, where he led a global banking team, and headed the European equities team.
The appointment comes at a difficult time for BT, with only 19 out of 96 funds recording inflows for 2002.
BT and Sagitta were also the worst performers in a survey of pooled superannuation trusts released by Mercer Investment Consulting last week, returning minus 11.3 percent and minus 11 percent respectively for calendar 2002.