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

Melinda Howes

Executive Director, Superannuation Boards & General Manager, Superannuation - BT Financial Group

Melinda Howes commenced a role in late 2014 as General Manager of Superannuation for BT Financial Group. Until June 2014 she was the Director of Product Strategy and Services for AMP's Insurance and Superannuation business.

Melinda is an actuary whose career in financial services has spanned policy, strategy, consulting, product and sales work in superannuation, wealth management, insurance and not for profit entities.

Melinda was the CEO of the Actuaries Institute for three and a half years. Prior to that she was Director of Policy at ASFA (the Super Funds Association). She has also been a consultant with ALEA Actuarial and previously spent eleven years at BT from 1993, culminating in a role as Director of Superannuation and Retirement Products. She started her career in life insurance with Prudential.

Melinda is on the Super FSC board, an Executive Director on the BT Financial Group RSE Boards. Melinda is a member of the Australian Institute of Company Directors and a Fellow of The Institute of Actuaries of Australia, she's also on the advisory board of Macquarie University's Faculty of Business and Economics.

Yvonne Le Bas

Chief Financial Officer - BT Financial Group

Yvonne was appointed as Chief Financial Officer, BT Financial Group in February 2016. Yvonne first joined Westpac Group in 2007, and has held a number of executive roles including Acting Deputy CFO, CFO Group Services, General Manager Enterprise Investments & Delivery, CFO St George Integration / GM Finance Transformation and General Manager Productivity & Process Excellence.

Prior to joining Westpac, Yvonne was General Manager, Decision Support Australia at NAB and General Manager Strategy at MLC Corporate Development.

Yvonne is a Fellow of the Australian and England & Wales Chartered Accountants and a Member of the Australian Institute of Company Directors. She holds a Bachelor of Business Studies and Master of Art from Trinity College Dublin, Graduate Management Qualification from AGSM. In 2013, Yvonne was awarded Westpac’s General Manager of the Year Award and in 2015 and in 2013 was a finalist for Westpac’s Women of Influence internal awards.

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.

Kathy Vincent

Executive Director, Superannuation Boards & General Manager, Platforms and Investments – BT Financial Group

Kathy Vincent is BT’s Executive Director, Superannuation Boards & General Manager, Platforms and Investments. 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.

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.

Dina Kotsopoulos

Head of Product Management - Platforms, Platforms and Investments – BT Financial Group

Dina joined BT in 2006 and currently oversees the management of BTFG's platform solutions, which includes the Asgard, BT Wrap and Panorama platforms. Dina is responsible for competitiveness of these BT platforms, ensuring they continue to innovate and meet the needs of the adviser and investor communities, in turn growing BTFG's market share.

Dina has over 11 years experience in financial services and has held various other product and customer management roles at BT. Dina holds a Master of Business Administration.

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).

Bettina Fischer

Head of Program Delivery, Superannuation - BT Financial Group

Bettina Fischer is the Head of Program Delivery in Superannuation, a role which she was appointed to in June 2015 responsible for leading a multi-project team of 150 members to deliver Stronger Super Regulatory requirements, Legislative and Strategic Initiatives.

Bettina joined the BT Financial Group in 2006, throughout this time her roles have included senior Project/Program, Implementation and Change Management roles.

Prior to joining BT Financial Group Bettina held roles with the Insurance Australia Group as a Program Manager in Customer Strategy, as well as with the Commonwealth Bank where she started her career as a Senior Business Analyst and progressed to an Executive Manager of the Compliance Projects Program.

Bettina graduated from Macquarie University with a Bachelor of Economics majoring in Banking and Finance.

Adam Douglas

Head of Business Risk & Regulatory Centre of Excellence, Superannuation - BT Financial Group

Adam was appointed Head of Business Risk & Regulatory Centre of Excellence for BT Financial Group's Superannuation business in May 2015. In this role, he's responsible for ensuring the BT Superannuation business has sustainable, efficient and compliant business processes and frameworks in place which enable it to strategically leverage legislative and regulatory change.

Prior to being appointed to this role, Adam was responsible for leading the delivery of BT's regulatory change program across the Superannuation business.

With over 18 years in the financial services sector in Australia, Adam has worked across the areas of product strategy and development, sales planning and development, strategic program implementation and risk and compliance. Senior roles within Westpac and BT have included Head of Change & Training, Westpac Group Risk, Program Director of the enterprise-wide Heath, Safety & Wellbeing Transformation Program, and Head of Product Development and Strategic Projects at BT.

Adam is Westpac's Lead Mentor for the School for Social Entrepreneurs and has been a Director of the Westpac Employee Assistance Foundation since 2011.

Adam holds a Bachelor of Arts from the University of Sydney and is a member of the Australian Institute of Company Directors.

Hannah Oakhill

Head of Direct Distribution, Superannuation - BT Financial Group

Hannah joined the BT Financial Group in her role as Head of Direct Distribution for Superannuation in 2016.

Hannah has over 15 years’ experience across banking in both Australia and the UK, covering a broad range of products including deposits, credit cards, mortgages, insurance, superannuation and financial advice.
Before joining BT, Hannah was at Macquarie for over 8 years. She was a Division Director responsible for offer design and channel development for their new Personal Banking business. Prior to this role, Hannah worked in Macquarie’s Private Wealth business where her focus was around Macquarie’s direct wealth offerings.

Hannah has a Postgraduate Diploma in Marketing  from the Chartered institute of Marketing in the UK as well as a Diploma of Financial Services from Kaplan and a MBA (Executive) with Distinction from AGSM.

Julie Slapp

Head of Product, Superannuation - BT Financial Group

Julie first joined BT in 1997 working across BT’s business including Super, Investment Management and Wrap product management and development. Julie was appointed Head of Product, Superannuation in 2017 and oversees the management of BTFG's superannuation solutions, which includes Corporate and Direct Super and retail managed investment schemes. Julie is responsible for competitiveness of the BT superannuation products, ensuring they continue to innovate and meet the needs of the employer, adviser and member communities, in turn growing BTFG's market share.

Julie has 20 years’ experience in financial services and holds a Bachelor of Economics, Economics and Marketing from Macquarie University and a Diploma of Superannuation Management.

Alastair Welsh

Acting Chief Executive, Business Bank

Alastair was appointed Acting Chief Executive, Business in April 2019. He manages the Group’s end to end relationships with business customers for Westpac, St.George, BankSA and Bank of Melbourne. The Business division holds relationships with Australia’s Small, Commercial, Corporate and Agri businesses, providing wide range banking services and support. Through our brands, the division also supports customers’ wealth needs including Private Wealth, Superannuation and BT Platforms, Investments and Operations.

Alastair holds more than 30 years’ experience in banking in the UK, New Zealand and Australia. Since joining Westpac NZ in 1992, he has held a variety of roles from relationship management through to leadership positions for small business banking, BT Financial Group, Group Customer Transformation and Westpac Commercial banking. Prior to this appointment, Alastair was General Manager for the Westpac Commercial Business Bank.

Non-executive Directors

David Plumb

Independent, Non-executive Director (1 March 2011 to present), Chairman (16 November 2015 to present)

David Plumb was appointed as a director of the Superannuation Boards in 2011; he served as Chairman of the Board Audit, Risk and Compliance Committee from 2011 to November 2015 and serves on the Board Investment Committee. David was appointed as Chairman of the Superannuation Boards on 16 November 2015.

David has more than 28 years' financial services experience, having operated at a Director, Executive and Adviser level principally within the superannuation, funds management, advice and insurance sectors.

In addition to his roles with BT, David is currently a Director on the Board of Insurance and Care NSW, serves on the Compliance Committee for Blackrock Investment Management and consults to organisations on Finance, Strategy and Organisational Change. David is a Graduate Member of the Australian Institute of Company Directors, a Fellow of the Institute of Chartered Accountants and holds a Master of Economics – Professional Accounting from Macquarie University.

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, Risk & Compliance Committee. Effective 10 July 2019, Robin will become 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 spent 8 years as CEO of the Equipsuper superannuation fund and held previous positions as GM Corporate Affairs, AXA Asia Pacific, CEO Risk,  AXA Australia, and Managing Director of Prudential-Bache Securities (Australia). His earlier experience was as a CFO.

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 currently Chairman of Indue Limited, a non-executive director of Defence Health Ltd, 8IP Emerging Companies Limited and The Weary Dunlop Rugby Foundation Ltd., 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, 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 at QIC Limited and 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 on the Boards of Stadiums Queensland (Chair of Audit and Risk Committee), Metro Arts, Queensland Teachers Union Health Limited (chair of Risk Committee), and Blue Sky Alternatives Access Fund Limited (Chair of Audit and Risk Committee), and previously served as a member of the ASFA Governance & Regulatory Council.

Jane Perry

Independent, Non-executive Director (1 February 2016 to present)

Jane was appointed as a director of the Superannuation Boards in February 2016. She serves on the Investment Committee and the Board Audit, Risk and Compliance Committee.

Jane has more than 25 years business leadership experience, predominantly in financial services. She retired from her role as Chief Executive Officer, Qantas Super, in December 2015 and was previously Chief Executive Officer of J.P. Morgan Treasury and Securities Services Australia and New Zealand. In March 2011 Jane was recognised as the Custodian Banker of the Year in the Asset Asian Awards and in November 2010, she was inducted into the YWCA’s Academy of Women Leaders in New York. Jane’s earlier career included roles as General Manager People and Chief Operations Officer for AXA’s Australia and New Zealand franchise and Associate Director of KPMG Management Consulting.

Jane has previously held board positions with the Association of Superannuation Funds of Australia (ASFA) where she chaired the Policy Committee and served on the Member Services Committee, National Mutual Superannuation Pty Ltd, National Mutual Staff Superannuation Plan, J.P. Morgan Nominees Australia Limited, the Victorian Arts Centre and the Australian Brandenburg Orchestra.

Jane is currently a member of the Salvation Army Advisory Board where she chairs the Risk Sub-Committee and serves on the Risk and Audit Board and the Employment Plus Board. She is a Director of the Sydney Financial Forum.

Jane was educated at Macquarie University, Sydney, and holds Bachelor of Arts and Bachelor of Science degrees, as well as a Diploma of Education.

Executive Remuneration Summary

Register of Relevant Duties & Relevant Interests