BT Financial Group (BTFG) is in redeployment discussions with staff around a number of roles in the wake of last week's senior management overhaul.
InvestorDaily understands the Westpac-owned wealth manager's new operating model announcement and subsequent internal reshuffle have resulted in a number of key roles no longer being required.
There has been much speculation about the number of senior staffers who have been affected by the changes, with staff within the company's superannuation, platforms, insurance and marketing divisions potentially involved in discussions.
A BTFG spokesperson declined to comment on the senior management changes or speculate on specific roles affected.
"We do not comment on individual staff members," the spokesperson said.
However, they did say: "We are in the consultation phase for various roles across the business."
Last week, BTFG chief executive Brad Cooper announced a new operating model for the company.
As part of the announcement, the company reshuffled three general manager responsibilities across its superannuation, platforms and insurance divisions.
The reshuffle has resulted in BTFG general manager of customer experience and marketing Deanne Stewart now being responsible for the company's superannuation, marketing and direct business.
BTFG general manager of business transformation John Shuttleworth will now look after the company's platforms and operations business. This division will include the company's investment platforms, Asgard and BT Wrap, as well as the NextGen program.
General manager of superannuation and investments David Lees will now be responsible for BTFG's insurance and investments business. The asset management portfolio will house Advance, Ascalon and BT Investment Management.
The operating model for the advice and private wealth businesses will remain the same.
The new operating model is believed to be part of a five-year Westpac Group strategy.
