BT Financial, the wealth management arm of Australian bank Westpac, has hired Lucy Steed as head of product and development within the equities division.

In her newly-created role, Steed will be responsible to develop all BT Financial equities products which includes protection, managed accounts and lending.

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Steed will report to BT Financial head of equity and gearing solutions, Anthony Potts, who reports to the company’s equity business head, Cathy Kovacs.

BT Financial provides a range of wealth services which include investment, superannuation and retirement income products, investment platforms, financial advice, private banking and insurance solutions.

Earlier in August 2013, BT Financial has secured approval from the Australian Prudential Regulatory Authority for its MySuper licences.

The company said it will launch actively-managed lifestage funds as its MySuper solution.

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