BT Investment Management Ltd to rebrand as Pendal Group

Leading fund manager BT Investment Management Ltd (ASX: BTT) has announced plans to rebrand and change its name should shareholders approve at a meeting on April 28.

According to the release, BTIM intends to change its name to Pendal Group.

The rational for the name change is that the BT brand is actually owned by Westpac Banking Corp (ASX: WBC) and licensed to the company. As the license is due for renewal later this year, the BTIM board felt now was the time for change and for the company to establish its own name and brand.

This won’t be the only link between the two companies brought to an end in the near future.

Westpac has significantly reduced its stake in BTIM from 60% to around 10% today, but has signalled its intention to sell its remaining stake when favourable market conditions allow. Though this will not take place before the release of the fund manager’s first-half results.

Why Pendal?

The release explains that: “The proposed name of Pendal Group has been chosen because of its link to the origins of the BT investment management business. It was the name given to BT’s nominee company established in 1971 to hold assets on behalf of its first prospective client Dalgety, being a reversal of Dal(gety) Pen(sion).”

BTIM’s international business, J O Hambro Capital Management, will continue to operate under its existing name and branding.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!