Additional disclosure - BT Funds Management No. 2 Limited

Regulatory reporting of trustee entity BT Funds Management No. 2 Limited, including executive remuneration and group policies.

Executive summary

Executive Officers

Matthew Rady

Chief Executive Officer, BT Financial Group

Matthew Rady was appointed Chief Executive Officer BT Financial Group in October 2021.

He is responsible for BT’s Platforms, including the flagship BT Panorama, BT’s personal and corporate super and investment products.

Before joining BT, Matt was Chief Executive Officer at Allianz Retire+. He has more than 30 years’ experience in the financial services and wealth industries with executive roles in companies including Macquarie Group and global financial services technology company, IRESS.

Matt is also a Non-Executive Director at JDRF, a global not-for-profit supporting type 1 diabetes research.

Kathy Vincent

Chief Strategy & Product Officer, BT Financial Group

Kathy Vincent is BT’s Chief Strategy & Product Officer. In this role Kathy is responsible for leading BT’s retail platforms (BT Panorama, BT Wrap and Asgard) as well as BT’s investments business.
 
Prior to joining BT in July 2018, Kathy was General Manager, Wealth Products and Platforms at NAB where she was responsible for the leadership and management of the retail super and investments platform, as well as NAB’s Asset Management Product Team.
 
Previous roles include Co-Head of Macquarie’s alternatives business and Head of Product Strategy for Macquarie Group’s Global Investments business.
 
Kathy has 25 years’ experience in financial services with specialist expertise in retail platforms, product strategy and distribution.
 
Kathy has a Bachelor of Commerce from the University of New South Wales and a Graduate Diploma in Applied Finance and Investment.

Andrew Wallace

Managing Director, Personal and Corporate Superannuation, BT Financial Group

Andrew Wallace is the Managing Director, Personal & Corporate Superannuation for BT Financial Group. Prior to this role he was the Head of Business Controls & Governance where he was responsible for the Business Controls, Insurance Review and Trustee Claims and Public Policy & Technical teams within the Super business.

Prior to joining BT Financial Group Andrew held roles with Perpetual Limited for 7 years, the most recent being ‘Acting’ Chief Operating Officer, as well as General Manager, Advice Delivery & Trustee Services within the Perpetual Private division, and Head of Business Risk.

Andrew graduated from the University of Adelaide with a Bachelor of Economics, is a Chartered Accountant and holds an MBA in Strategic Operational Management. Andrew is a graduate of the AICD Company Directors course.  He has held an executive director and responsible manager role for Perpetual’s Trustee Company for 4 years, as well as a responsible person for Perpetual’s Superannuation trustee, and has worked in Risk roles at Perpetual and BT Financial Group for over 10 years.

Kirsten O’Donoghue

Chief Risk Officer, Business Bank

Kirsten O’Donoghue joined the Westpac Group in 1994.

Kirsten has held many senior roles within the Group in Australia and overseas including Chief Credit Officer Northern Hemisphere, Westpac Institutional Bank and Head of Corporate Banking & Property Finance, St George Business Banking. Kirsten commenced her role as Chief Risk Officer, Business Banking in 2016 and added the Westpac Group wealth entities to her portfolio in 2019.

Kirsten holds a Bachelor of Science & Environmental Science (Minor Economics) from Murdoch University (Perth) as well as a Masters of Business Administration from the University of New South Wales.

Corrin Collocott

Chief Investment Officer

Corrin joined BTIS in November 2015 in the role of Head of Diversified Portfolio Management and has more than 20 years' experience working across various industries, most recently as Manager, Investment Strategies at Sunsuper.

Corrin is responsible for delivering on the investment objectives for all the BTIS diversified portfolios (multi-manager and lifestage). In particular, he is responsible for the formulation and implementation of strategic asset allocations and oversees the tactical asset allocation/dynamic asset allocation processes, along with overseeing the meeting of regulatory requirements, reporting and the preparation of the relevant Board papers containing investment recommendations.

Prior to this Corrin has held a number of roles across a variety of industries including Russell Investment Group, lnTech, MCA NZ Limited, Watson Wyatt Worldwide and previous to that, Rolls Royce, Koeberg Nuclear Power Station and Aegis Insurance Company.

Corrin graduated from the University of Cape Town with a Bachelor of Science in Mechanical Engineering, and is a Fellow of the Institute of Actuaries of Australia.

Georgina Croft

Chief Customer Service Officer, BT Financial Group

Georgina joined the BT Executive team in February 2022 as Chief Customer Services Officer, for BT Platforms. Georgina has been at the Westpac Group for 12 years in a range of executive roles.

From 2020-2021, Georgina was the business lead for the transactions and separation programs for the sale of General Insurance, Lenders Mortgage Insurance and Life Insurance with a total upfront consideration value of $1.9bn.

From 2015 to 2020, Georgina was the Chief Operating Officer for Westpac Group’s Insurance businesses, responsible for a diverse portfolio of services including customer solutions, program transformation, supplier management, data and regulatory affairs and line 1 risk functions.

Before joining Westpac in 2010, Georgina was a Senior Associate in the Corporate M&A Group at Herbert Smith Freehills.

Georgina has a Bachelor of Laws (First Class Honours), Master of Laws, Bachelor of Arts, University of Sydney. Georgina is admitted as a Legal Practitioner of the Supreme Court of NSW and High Court of Australia.

Mark Mullington

General Manager Business Controls, Monitoring & Remediation – Specialist Businesses

Joining the Specialist Businesses Division (SBD) in October 2020, Mark is responsible for the end to end control environment for SBD, including delivering on our customer remediation and regulatory change obligations, and supporting the first line risk teams in each Business Unit.

He brings to the role 20 years of global risk and operational experience across wealth and financial services. Mark joins Westpac from his most recent role as Chief Risk Officer for AMP’s wealth management division.

Before Mark joined AMP he was based in Scotland where he was Chief Risk Officer for Sainsbury Bank and prior to that he held positions across the United Kingdom, Australia and Canada for ING Direct, including as Chief Financial Officer in Australia.

Mark holds a Masters of Business Administration as well as a Masters of Marketing from the Dutch based Tilburg Institute of Advanced Studies.

Kathryn Cosentino

Head of Product Management

Kathryn is BT’s Head of Product Management. In this role Kathryn is responsible for leading BT’s platforms superannuation and investment offers.

Kathryn has over 20 years’ experience in financial service with a career spanning insurance, operations, superannuation and investments.

Prior to joining BT in May 2022, Kathryn has held a number of senior roles and most recently was the Head of Wrap Platforms at Insignia Financial where she was responsible for the MLC and IOOF superannuation and investment platform.

Kathryn has a Bachelor of Commerce from Macquarie University.

Lisa Gavin

Head of Tax and Accounting Services, Platforms & Investments - BT Financial Group

Lisa is an experienced funds management professional, who has worked on a diverse range of products over the past 25 years.

Lisa joined the Investment Accounting team within Westpac Financial Services (now BT Financial Group) in 1993. She had various roles within Investment Accounting before being appointed Head of Tax and Accounting Services in May 2011.

She has overall responsibility for accounting for BT's managed investment schemes, superannuation funds and platforms.

Prior to joining Westpac, Lisa worked at PricewaterhouseCoopers in the audit division.

Lisa has a Bachelor of Economics from the University of Sydney, is a member of the Institute of Chartered Accountants in Australia, has a Graduate Diploma in Applied Finance and Investment from Financial Services Institute of Australasia (FINSIA), and is a Graduate of the Australian Institute of Company Directors (GAICD).

Emma Chand

Head of Product, Superannuation - BT Financial Group

Emma Chand is BT’s Head of Product, Superannuation. In this role Emma is responsible for leading BT’s direct superannuation and investment offers and corporate superannuation.

Emma has over 20 years experience in financial services, with her career spanning superannuation, retirement, investments and insurance. Emma joined BT in 2015, and has held a number of senior roles. Previous to this, Emma held a number of product roles at Colonial First State.

Emma graduated from the University of Sydney, with Bachelor of Economics and Master of Labour Law and Relations.

Jason Yetton

Chief Executive, Specialist Businesses & Group Strategy

Jason was appointed Chief Executive, Specialist Businesses in May 2020.

Specialist Businesses support customers with wealth needs including Life and General Insurance, Superannuation and Platforms and Investments and also includes Auto Finance and Pacific banking.

The Westpac Group has decided to simplify and focus on its Australian and New Zealand banking businesses and Jason leads the Group’s strategic review of Specialist Businesses as it considers whether they would ultimately be more successful under different ownership.

These include:

• Westpac Life Insurance Services Ltd
• Westpac General Insurance Ltd
• BT Financial Group Pty Ltd
• Advance Asset Management Ltd
• BT Funds Management Ltd
• BT Portfolio Services Ltd
• Asgard Wealth Solutions Ltd
• Westpac Financial Services Ltd
• Westpac Bank PNG Ltd

Most recently, Jason was Chief Executive Officer NewCo, CBA, where he was appointed to lead the demerger of its wealth management and mortgage broking businesses. Prior to that he was Chief Executive Officer & Managing Director, SocietyOne, an early financial services disrupter and consumer finance marketplace lender.

Jason was previously with the Westpac Group for more than 20 years, holding a number of senior positions including Group Executive, Westpac Retail & Business Banking, and a range of senior executive positions in BT Financial Group, including General Manager, BT Customer Solutions and Head of Product.

Andrew Doyle

Chief Financial Officer, BT

Andrew Doyle joined the Westpac Group in May 2021 as Chief Financial Officer (CFO) of the BT Financial Group, covering the Platforms, Investments and Superannuation businesses.  Andrew has operated in both consulting and CFO roles in Financial Services across Australia, Europe and APAC. 

Prior to joining Westpac, Andrew was the CFO of CBAs Wealth Management business unit.  This included financial responsibilities across Asset Management, Platforms, Insurance and Advice businesses through CBAs exit from this sector.  Andrew is a Chartered Accountant and also holds a Bachelor's degree in business.

John Patrick Moorhead

Chief Financial Officer, Specialist Businesses

John Patrick (JP) Moorhead joined the Westpac Group in September 2020 as Chief Financial Officer (CFO) in the Specialist Businesses Division. JP is an experienced financial services executive, both in Australia and overseas with a background in finance, capital management, treasury, risk management, mergers and acquisitions, as well as investor relations. He joins the Group from his most recent role as CFO & COO at AMP Capital. Prior to joining AMP Capital he was CFO at the Virgin Group, COO at Eight Roads (the investment arm of Fidelity International) and at Goldman Sachs. JP has served as a Director and Audit Committee chair on the boards of various AMP Capital entities, Virgin Group companies and Eight Road investments and studied at Cambridge University in the UK.

Caroline Guillot

Head of Risk Superannuation, Platforms and Investments

Caroline Guillot is the Head of Risk, Superannuation, Platforms and Investment for BT Financial Group. Prior to joining BT in December 2020, Caroline was the Head of Business Risk & Resilience at MLC for the Retirement Solutions and Investments division for 3 years, where she was responsible for the Line 1 Risk function across Workplace Super, Retail Super, Platforms and Distribution.  

Caroline has more than 20 years’ experience in financial services in Australia and Europe. Prior roles included 10 years with PwC (Assurance) in Australia and risk roles at Commonwealth Superannuation Corporation.

Caroline is graduated from the University of Paris (France) Dauphine and holds a Master of Science in Computer Science and Finance and a post graduate diploma in Business Administration.

Tamryn Herridge

Head of Operational Risk and Governance

Tamryn joined the Westpac Group in 1999, having worked across retail banking and wealth management in a range of senior leadership roles.  Tamryn’s role is Head of Risk, Operations and Oversight across BT Financial Group.

Tamryn has a Bachelor of Economics and Bachelor of Commerce (Corporate Finance) from the University of Adelaide.

Tamryn is also non-executive director at GOGO Foundation (CAN 40 617 397 869), a South Australian not-for-profit organisation and registered charity creating targeted pathways to employment for vulnerable women facing complex barriers to employment.  

Non-executive Directors

Gai McGrath

Chairman and Independent Non-executive Director (1 July 2021 to present)

Gai McGrath was appointed as Chairman and a Non-executive Director of the Superannuation Boards on 1 July 2021.

Gai has over 35 years’ experience in the financial services and legal industries. Including 12 years with Westpac Group as General Manager of Westpac’s retail banking business in Australia from 2012 to 2015 and in New Zealand from 2010 to 2012 and in BT Financial Group as General Manager, Customer Service from 2008 to 2010, Head of Customer Service Delivery from 2006 to 2008 and General Manager, Risk Solutions from 2003 to 2006.  Prior to joining the Westpac Group Gai spent seven years at Perpetual Limited including as General Counsel and Company Secretary.

Gai is Chair of Humanitix Limited and a Non-executive Director of Genworth Mortgage Insurance Australia Limited, Steadfast Group Limited, HBF Health Limited and Toyota Finance Australia Limited.

Gai holds a BA, LLB (Hons), LLM (Distinction) and is a Graduate of the Australian Institute of Company Directors.

Robin Burns

Independent, Non-executive Director (1 July 2019 to present)

Robin was appointed as a director of the Superannuation Boards on 1 July 2019 and serves on the Board Investment Committee and Board Audit Committee. Effective 10 July 2019, Robin was appointed as the Chairman of the Board Investment Committee.

Robin held senior executive roles in financial services for over 25 years in a range of enterprises. He was Managing Director of Equity Trustees Ltd from 2010 to 2016 and since then has held a number of non-executive director positions. Before Equity Trustees he was CEO of Equipsuper and held previous positions as a CEO and CFO in financial services.

Robin is a past member of the Chartered Accounting Institutes in England & Wales and Australia and was a personal member of the Australian Stock Exchange. He is a Fellow of the Australian Institute of Company Directors. He served on the board of the Financial Services Council until 2016, chairing a number of Board Committees.

He is a non-executive director of Defence Health Ltd, 8IP Emerging Companies Limited, and an independent member of the PIMCO Australia Compliance Committee.

Michael Cottier

Independent, Non-executive Director (16 November 2015 to present)

Michael Cottier was appointed as a Director of the Superannuation Boards in November 2015 and serves as Chairman of the Board Audit Committee. Michael also serves on the Board Risk and Compliance Committee.

Michael is an experienced financial service professional with expertise in finance and taxation. Michael’s most recent Executive role was as CFO, QSuper Limited. Michael has also worked as CFO of QIC Limited and in senior finance and tax roles at Suncorp Group Limited.

Michael is a Fellow of the Australian Institute of Company Directors, a Fellow of Chartered Accountants ANZ (FCA), and holds a Masters in Taxation from The University of Queensland.

Michael is currently on the Boards of Metro Arts Limited (Board Chair), Queensland Teachers Union Health Limited (chair of Risk Committee), and WAM Alternative Assets Limited (Board Chair), and previously served as a member of the ASFA Governance & Regulatory Council.

Doug Carmichael

Independent, Non-executive Director (1 July 2020 to present)

Doug was appointed as a director of the Superannuation Boards in July 2020. Doug serves as Chair on the Board Risk and Compliance Committee and is on the Board Audit Committee. Doug has more than 30 years financial services experience most recently as the Commonwealth Bank Group Super chief executive where he led the trustee services team assisting the Group Super board in the development and execution of strategies to achieve member satisfaction, fund growth and member retention.

He previously was general manager of strategic operations and risk management for Australian Administration Services.

Doug is a Founding Director and former President of the Canadian Australian Chamber of Commerce and was previously a Director of the Fund Executives Association Limited.

Doug was educated at Mount Allison University, Canada, and holds a Bachelor of Commerce.

Anne Anderson

Independent, Non-executive Director (19 October 2021 to present)

Anne was appointed as a director of the Superannuation Boards in October 2021. Anne also serves on the Board Investment Committee and the Board Risk and Compliance Committee. Anne has over 35-years’ experience in financial services with a varied career in treasury and investment management. She has operated across Australian and international markets working with superannuation, wealth, sovereign and insurance retail, wholesale and institutional clients.

Anne has served in several Managing Director roles with UBS Asset Management most recently as Head of Fixed Income and Investment Solutions for Australia. Anne managed the UBS Asset Management Asia Pacific business for 8 years, chaired various global investment committees and was a member of the executive leadership team. She was also an Adviser to the Commonwealth Treasury Advisory Board for the Australian Office of Financial Management.

Anne is currently an Advisor to the REST Board Investment Committee, a Director of Eight Gate Capital Management, an Independent Member of the E&P Financial Group Wealth Investment Committee, Member of the ASIC Consultative Panel and Chair of the St Joseph’s College Foundation.

Anne has a Bachelor of Economics, a Master of Applied Finance from Macquarie University and is a graduate of the Australian Institute of Company Directors.

Anne Clarke

Independent, Non-executive Director (26 April 2022 to present)

Anne was appointed as a Director of the Superannuation Boards in April 2022 and also serves on the Board Investment Committee and the Board Risk and Compliance Committee.

Anne has over 25 years’ experience in financial services, including as a lawyer in the financial services practice at Mallesons Stephen Jacques (now King Wood Mallesons) and Executive Counsel at Herbert Smith Freehills advising Trustees, Life Insurers, Corporations on a wide range of matters.  These matters included successor fund transfers, Part 9 transactions, litigation, mergers and acquisitions, trust law matters and general regulatory issues. During her time in private practice, Anne was named as a leading superannuation practitioner in Best Lawyers for several years.

In 2014 she moved out of private practice and has held various executive roles since that time including Chief General Counsel and Chief Risk Officer at TAL. In addition to these traditional legal and risk roles, Anne has been responsible for Internal Dispute Resolution, External Dispute Resolution, Regulatory Affairs, Company Secretary, the Office of the Trustee and served on several TAL subsidiary boards.

Anne is highly regarded in the financial services industry for her risk, legal and strategic skills and her knowledge of the commercial, regulatory and broader industry environment.  She is also recognised as having the ability to lead and build very effective and efficient teams. Her experience spans effectively managing diverse stakeholders including senior executives, boards, regulators and government.

Executive Remuneration Summary

Register of Relevant Duties & Relevant Interests