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.

Brad Cooper

Chief Executive - BT Financial Group

The Chief Executive of BT Financial Group, Brad Cooper brings his passion for customers and his experience of over 20 years in business leadership roles to the organisation.

Prior to joining BT Financial Group, Brad led the merger of St.George and Westpac as the Westpac Group’s Chief Transformation Officer.

Brad joined the Westpac Group in April 2007 as the Chief Executive of Westpac New Zealand. Prior to joining Westpac, Brad was Chairman of GE Capital Bank and Chief Executive Officer of GE Consumer Finance UK & Ireland. He drove GE's UK Six Sigma program and was certified as a Quality Leader (Black Belt) in December 2002. He was promoted to Chief Executive Officer of GE Consumer Finance UK in January 2003 and appointed Chairman of GE Capital Bank in April 2004.

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.

Carolyn Hoy

General Manager Risk - BT Financial Group

Carolyn Hoy joined the Westpac Group in 2005.  A lawyer by profession, Carolyn's roles within the Group have included Head of Group Corporate Legal for Westpac, Head of Compliance for the Australian Financial Services division and most recently Chief of Staff to the Westpac Group CEO Brian Hartzer.

Carolyn commenced her role in BTFG as General Manager Risk in August 2017.  As General Manager Risk for BTFG, Carolyn is responsible for leading the BT Risk team which aims to assist the business achieve its strategic objectives by providing proactive, integrated risk support and advice, robust governance frameworks and effective relationships with regulators.

Prior to Westpac, Carolyn had an in house legal role at AWAS Aviation Services, Morgan Stanley’s aircraft leasing arm, and started her career at private practice at Minter Ellison.

Carolyn holds a Bachelor of Laws and a Bachelor of Arts, both with honours, from the Australian National University.

Kathy Vincent

General Manager, Platforms and Investments

Kathy Vincent is BT’s General Manager for 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.

Andrew Walker

Chief Operating Officer - BT Financial Group

Andrew Walker was appointed Chief Operating Officer, BT Financial Group in December 2015 to develop centres of excellence and drive horizontal connectivity across BT and Westpac Group. Andrew is an experienced executive with knowledge of all parts of the wealth value chain and deep expertise in delivering transformational change.

Andrew joined BT Financial Group in 2013 as Senior Head of Strategy, leading Westpac's wealth strategy and the business strategy for BT Financial Group. Andrew has broad experience across multiple industries (and regions) including corporate development, strategic analysis, M&A, capital raisings and turnarounds.

Before joining BT, Andrew was Managing Director of corporate advisory firm Radius Capital Limited and the CEO of Dorchester Pacific Group, a NZ listed multidivisional financial services group with operations across Finance, Insurance, Funds Management and Advice. Prior to this Andrew was Associate Partner with investment banking and venture capital firms Clavell Capital (NZ) and Fremont Partners (US).

Andrew completed his MBA at the Stanford Graduate School of Business in 2003.

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

Acting 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).

Matthew Englund

Head of Workplace Super, Superannuation - BT Financial Group

Matt is the Head of Workplace Super and is responsible for driving revenue through customer acquisition and retention in Workplace super offers.

Prior to this appointment, Matt led Securitor Financial Group, a part of BT Financial Group's Advice business, since 2010. Securitor provides licensing and practice support to over 450 advisers nationally. Matt previously led BT Financial Group's Practice Management function which is responsible for providing dealer services across the Advice and Private Banking businesses. Matt also spent nine years with Colonial First State, where he held several senior management roles, including Head of Advice Solutions and Head of Distribution Development.

Matt holds a Bachelor of Business (UTS), a Graduate Diploma in Financial Planning (SIA) and is a Graduate member of the Australian Institute of Company Directors.

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.

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.

Lorraine Berends

Independent, Non-executive Director (10 July 2014 to present)

Lorraine Berends was appointed as a director of the Superannuation Boards in 2014. She chairs the Board Investment Committee and serves on the Board Audit, Risk and Compliance Committee

Lorraine has worked for over 30 years in the Australian financial services industry, specialising in superannuation and funds management.

Lorraine served on the Board of the Association of Superannuation Funds of Australia (ASFA) for 12 years (including 3 years as Chair) and the Board of the Investment Management Consultants Association (IMCA australia) for 13 years (including 7 years as Chair). Lorraine was awarded Life membership of ASFA in November 2009 "in recognition of exceptional service to the industry".

Lorraine joined Marvin & Palmer Associates, a U.S. based global equity manager, in May 2000 with responsibility for Marvin & Palmer’s business in Australia and Asia. Lorraine was appointed the first non-US principal of Marvin & Palmer Associates in July 2001. In prior roles Lorraine consulted to superannuation funds and other institutional investors.

Lorraine is a Fellow of the Institute of Actuaries of Australia, a Fellow of ASFA, a Graduate Member of the Australian Institute of Company Directors and holds a Bachelor of Science from Monash University, Melbourne. Lorraine is a Specialist Member on the Investment Committee of QSuper.

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