BT Financial Group (BTFG) chief executive Rob Coombe will take on the extra responsibility of leading Westpac's expanded wealth management business, once the Westpac/St George merger takes effect next month.
Westpac's multi-brand operation will see the new wealth business represented by well-known names such as Asgard, Advance, BT, Magnitude, Securitor, St George and Westpac.
Customers will continue to deal with their chosen brands and the wealth management business is committed to retaining, developing and investing in both the BT Wrap and Asgard platforms, Coombe said.
"Our combined strength means we have the ability to... provide new and enhanced products and solutions at a time when many wealth managers are fighting to stay in the game," Coombe said.
Asgard Wealth Solutions chief executive Geoff Lloyd, who was appointed as BTFG general manager of advice and private banking yesterday, will manage the private banking and financial planning businesses of both St George and Westpac.
Lloyd's former role as Asgard Wealth Solutions chief executive will no longer exist.
"Geoff Lloyd's new role is just the first of a number of appointments to be made between now and mid-December, in relation to the expanded wealth business," a BTFG spokesperson said.
The merged group's new executive team was announced yesterday, with St George chief financial officer Michael Cameron and retail bank group executive Les Matheson deciding to leave the organisation.
