The name BT came from one of our group heritage brands, BT Funds Management. BT Funds Management was originally part of Bankers Trust Australia which opened its doors in 1969 and is considered one of the pioneers of the Australian funds management industry.
Bankers Trust was formed in 1903 in New York, and was sold to Deutsche Bank in 1998. In 1999 the Bankers Trust Australian division was sold to the US-based Principal Financial Group, who sold the asset management part, BT Funds Management, to the Westpac Banking Corporation in 2002.
Westpac combined BT Funds Management with its previous wealth acquisition - the Rothschild asset management business - and its own Financial Services operations, to form an expanded wealth management division of Westpac - BT.
In 2008, the St.George Wealth Management business merged with BTFG to form one of the largest wealth management businesses in Australia. St.George Bank’s Wealth Management division brought eight unique businesses with them, that included Asgard, Securitor, Licensee Select, Advance Asset Management, St.George Financial Planning and St.George Private Clients.
This saw the brands of BT, BT Investment Management, Magnitude, Westpac Financial Planning, Insurance and Private Bank join forces with Asgard, Securitor, Advance, Licensee Select, Ascalon Capital Managers, St.George Financial Planning (including BankSA Financial Planning) and Private Clients.
Today BT operates as the wealth management brand within the Westpac Group and remains committed to supporting financial advisers and customers manage, grow and protect their money.