Geoff Lloyd departs BT Financial
Geoff Lloyd has resigned from Westpac-owned BT Financial Group (BTFG).
Lloyd was named general manager of advice and private banking for BTFG in December 2008 following Westpac’s acquisition of St George and the merger of BTFG with St George’s wealth management business. He was originally appointed chief executive of St George-owned Asgard Wealth Solutions in 2004, having already held a number of senior roles at BTFG.
There was no indication made by BTFG of Lloyd’s next move.
Lloyd’s departure has sparked a restructure of the management team, with David Lees and John Shuttleworth taking internal promotions.
“A new business focused specifically on superannuation, investment and retirement will be led by David Lees, who returns to BTFG’s executive line-up after two years in leadership roles for Westpac’s St George merger implementation,” the group said.
John Shuttleworth will take control of the BTFG platforms business with responsibility for the BT Wrap and Asgard businesses, as well as the group’s marketing and communication areas.
Long-term BTFG staffer Mark Spiers has been confirmed as general manager for advice, responsible for Westpac and St George financial planners as well as the group’s aligned financial advisers and dealer groups, while Jan Swinhoe was confirmed as general manager for Westpac Private Bank.
Rebecca Lim will move across from Westpac’s senior team into a new post as general manager, St George Private Clients. All general managers will report to BTFG chief executive Brad Cooper, with the changes to be implemented by 1 May.
In the statement issued by BTFG, Lloyd said he is proud of “the business and the team that was built at St George wealth management and BT advice and private banking, as well as the strong initiatives we have put in place to change the way Australians think about financial advice”.
Cooper said Lloyd had made “a terrific contribution to BT and Asgard as well as the wider industry”. Cooper said Lloyd had been an active campaigner for raising standards of financial advice, adding the group wished him well in his endeavours.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
