Rob Coombe, Chief Executive Officer
BT Financial Group (BT) is the wealth management business of Westpac. BT’s vision is to grow and protect the wealth of our customers, and empower them to achieve their financial goals.
BT is responsible for more than $87 billion in funds under administration on behalf of one million customers. Our business covers the full spectrum of wealth creation: financial advice, private banking, personal and business superannuation, life and general insurance, investment management, discount securities broking, margin lending and client portfolio administration ‘Wrap’ solutions.
| Financial Results |
|||
BT Financial Group |
2007 |
2006 |
%Mov’t 07/06 |
 |
|||
Operating income ($m) |
1,184 |
1,031 |
15 |
|
|||
Operating expenses ($m) |
(602) |
(547) |
10 |
|
|||
Cash earnings ($m) |
417 |
339 |
23 |
|
|||
Economic profit ($m) |
330 |
222 |
49 |
|
|||
Funds under administration ($bn) |
46.2 |
40.4 |
14 |
|
|||
Funds under management ($bn) |
41.3 |
39 |
6 |
|
|||
Expense to income ratio (%) |
50.8 |
53.1 |
(4) |
|
|||
Employee numbers |
3,005 |
2,895 |
4 |
|
|||
