The BT Investment Management business was listed on the Australian Stock Exchange in 2007 as a specialist investment manager with a history of managing and creating wealth for clients for over 45 years. The business was originally established in 1969 as Ord-BT Ltd and became fully owned by Bankers Trust Company (New York) in 1978 when it changed its name to BT Australia Ltd.
BT Australia became known as a progressive, innovative and successful organisation offering investment banking, equities and fund management services to domestic and overseas clients. BT’s long history of strong investment performance and client service made it one of the most successful funds management businesses in Australia and one of the most recognised brands in the investment industry.
In the late 1990’s following the takeover of Deutsche Bank for the Bankers Trust Corporation, BT Australia went through a series of ownership changes involving Deutsche Bank and then US-based Principal Financial Group (Principal) in August 1999. In 2002, Westpac acquired BT Financial Group (BTFG) from Principal including the funds management division. Also folded into the BT funds management business at the time were the Rothschild Asset Management and Westpac Investment Management businesses.
In 2007 the investment management arm of the broader BT Financial Group listed as a separate investment management business as BT Investment Management (BTIM) with Westpac retaining majority ownership. The establishment of a specialist investment management business provides for a business model that attracts and retains superior investment talent aligned to providing sustained investment performance for clients.
In 2011 BTIM expanded offshore by acquiring J O Hambro Capital Management (JOHCM) a London based boutique active equity manager.
In 2015 Westpac reduced its holding to approximately 31%, providing increased size and diversity of BTIM’s shareholder base, an increased free float resulting in greater liquidity of BTIM shares and eligibility for consideration in key market indices. Westpac’s and BTIM’s relationship remains strong and mutually beneficial.