BT re-shuffles roles, separates insurance business

A BT spokesperson told ifa the changes include the creation of a standalone insurance business unit and the merging of BT's platforms and investments into one business in order to align their "go-to market capability" for advisers and investors.

Phil Hay, head of life insurance at BT, will act as general manager of the insurance unit while an external search for a permanent replacement is underway.

Current general manager for platforms and operations, John Shuttleworth, will now be general manager of the newly-merged platforms and investments business.

In addition, Craig Lawrenson, previously head of product and business architecture, will be head of SMSF while Andrew Walker, formerly Westpac's senior head of strategy and M&A, has been named chief operating officer for BT Financial Group.

"Craig Lawrenson accepted a new head of SMSF role which will ensure continuity on this critical offer given his successful accomplishment of the Panorama build to-date and, specifically, Panorama's SMSF product capability," the BT spokesperson said.

"A new chief operating officer role complements the repointing by bringing together strategy, marketing, digital and all customer operations' teams among others," the spokesperson added.

The changes come after former general manager for insurance and investments David Lees accepted the role of Westpac Group deputy chief financial officer.

Speaking to ifa, Mr Lawrenson said he was happy with the changes.

"After four years on Panorama and having built out the aspects of the operating system and SMSF being the last part of that, this is a great opportunity for me to work on the business side of that," he said.

"I'm extremely happy with the outcome and looking forward to the opportunity."