GENERAL: WBC: BT Investment Management Proposed IPO on track 12:07p.m. 
REL: 1207 HRS Westpac Banking Corporation  
GENERAL: WBC: BT Investment Management Proposed IPO on track  
Monday 15 October 2007  
New Board of Directors, pre-registration to open  
Westpac today announced that the proposed partial IPO of BT Investment  
Management was on track  
with important milestones reached.  
In August Westpac's wealth and superannuation business, BT Financial Group  
(BTFG), announced its  
intention to create a new listed company to secure and grow its position in  
funds management.  
The IPO is expected to occur towards the end of this calendar year, subject  
to market conditions and  
regulatory approvals. The company will be named BT Investment Management  
New Board of Directors  
BT Investment Management has announced the new company's independent Chairman  
and non-executive  
director will be industry veteran Brian Scullin.  
Non-executive Directors will include Gavin Walker (independent), Carolyn  
Hewson and Rob Coombe  
(Westpac nominees). CEO and Chief Investment Officer of BT Investment  
Management, Dirk Morris,  
will complete the five-person Board of Directors.  
Pre-registration opening  
Westpac shareholders in Australia and New Zealand who held Westpac ordinary  
shares as at 7.00pm  
(Sydney time) on Friday 12 October 2007 will this week be invited to  
pre-register to receive a  
prospectus for the proposed IPO.  
BT Financial Group's wealth management business also includes financial  
advice, insurance, private  
banking, and customer solutions which is responsible for wrap platforms and  
BT's suite of retail  
investment, superannuation and retirement products, none of which will be  
involved in this transaction.  
For further information:  
BTIM Offer Information Line: 1300 792 077 (Australia) or 0800 767 556 (New  
Kylie Smith David Lording  
Media Relations Media Relations  
BT Financial Group Westpac Banking Corporation  
Ph: 02 8253 6195 Ph: 02 8253 3510  
Brian Scullin, Independent Chairman and Non-Executive Director  
Brian Scullin is a Director of DB RREEF Funds Management Limited and State  
Super Financial Services.  
Until recently Brian was Chairman of Deutsche Asset Management and a director  
of Spark Infrastructure.  
Brian has had an extensive career in the funds management industry in both  
Australia and Asia for Bankers  
Trust Australia and Deutsche Asset Management. Brian has held many industry  
positions including Vice  
Chairman of the Investment and Financial Services Association (IFSA), a  
part-time member of the Federal  
Government's Financial Reporting Council (FRC), a panel member for Financial  
Industry Complaints Service  
(FICS) and an inaugural Executive Director of the Association of  
Superannuation Funds of Australia (ASFA).  
Brian has a degree in Economics from the Australian National University.  
Gavin Walker, Independent Non-Executive Director  
Gavin Walker is a Director of Goodman Fielder, Lion Nathan and Zintel Group.  
He was a former director of  
Veda Advantage (now privatised). Gavin also served as Chairman of the New  
Zealand Foreign Direct  
Investments Advisory Board between 1995 and 1997.  
Gavin has had a lengthy career in investment banking and was the Chief  
Executive of Bankers Trust  
Australia Investment Bank between 1996 and 1999 and the Chief Executive  
Officer of Bankers Trust New  
Zealand Limited from 1986 to 1996.  
Gavin has a degree in Commerce and Administration majoring in Economics, from  
Victoria University,  
Wellington, New Zealand.  
Carolyn Hewson, Non-Executive Director (Westpac nominee)  
Carolyn Hewson is a non-executive Director of AGL and Westpac. She has also  
served as a director on the  
boards of CSR, AMP, South Australia Water and the Economic Development Board  
of South Australia.  
Carolyn has had extensive experience in the financial sector. Carolyn joined  
Schroders Australia investment  
bank in 1981 and worked as an investment banker for 14 years. She became an  
Executive Director of  
Schroders in 1989. At Schroders she worked in Capital Markets, Treasury and  
Investment Management and  
was Director - Financial Markets specialising in risk management and Director  
- Investment Management.  
Carolyn graduated in Economics (with honours) from the University of Adelaide  
and subsequently completed  
a Masters of Arts in Economics at Cambridge University.  
Rob Coombe, Non-Executive Director (Westpac nominee)  
Rob Coombe is the CEO of BT Financial Group. Rob joined Bankers Trust in 1991  
as Chief Legal Counsel.  
Rob was appointed CEO of BT Financial Group in January 2005, after holding  
further senior positions,  
including Head of BT's International Funds Management and CEO of BT's Funds  
Management business in  
Rob is actively involved in industry issues and is on the Board of Investment  
and Financial Services  
Association Limited (IFSA).  
Rob has a degree in Law (with honours) from the University of Technology,  
Sydney and is a barrister of the  
Supreme Court of NSW.  
Dirk Morris, Executive Director, Chief Executive Officer, Chief Investment  
Dirk Morris joined BT Financial Group in October 2006 and is responsible for  
overseeing the strategic  
direction and management of BT Investment Management's investment  
capabilities across all asset classes.  
Dirk has over 24 years experience in finance and has held a number of senior  
investment appointments in  
Australia and internationally. Dirk's previous appointments have included  
Chief Investment Officer  
(Currency) at Putnam Investments, Head of Global Strategy at Bankers Trust,  
Head of Currency at JP  
Morgan and Global Economist with Lehman Brothers.  
Dirk holds a PhD International Finance from the Graduate Institute of  
International Studies, Geneva and a  
B.A. Economics and Politics (Honours) from Macquarie University, Sydney  
End CA:00155284 For:WBC Type:GENERAL Time:2007-10-15:12:07:23