Annual Review 2008Annual review Focus
BT Financial Group
Rob Coombe, Chief Executive Officer


As Westpac’s wealth management operation, BT Financial Group (BTFG) manufactures and distributes financial products that are designed to help its customers accumulate, manage and protect their wealth. These products include retail investments, personal and business superannuation, life and general insurance and portfolio administration (Wrap and master trust platforms). BTFG also provides financial planning advice and private banking services. BT Investment Management Limited, which is owned 60% by Westpac, operates the Australian investment management business.


“Launching investment options to help manage their hard earned savings.”

Business Unit
Performance
2008
2007
% Mov't
2008/ 2007

BT Financial Group
Operating income ($m)
1,211
1,235
(2)
Operating expenses ($m)
(664)
(615)
(8)
Cash earnings ($m)
389
442
(12)
Economic profit ($m)
291
360
(19)
Funds under administration ($bn)
41.6
46.2
(10)
Funds under management ($bn)
32.2
38.7
(17)
Expense to income ratio(%)
54.8
49.8
10
Employee numbers
2,906
3,173
(8)

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