BT Financial Group, the investment management arm of Australia's Westpac banking group, has appointed Robert Swift as the new head of its BT Investment Management multi-strategy team. He replaces Al Clark who is to join Schroders in October as the head of its A$5 billion ($4 billion) multi-assets team for the Asia Pacific region, based in Singapore. Mr Clark had only accepted the re-styled role as BT's head of multi-strategies in March, following the departure of BT head of alternative investments Richard Keary. Mr Swift joins from Morgan Stanley in Boston and will be responsible for BT's range of diversified funds, global and Australian alternative investments and Australian and international sustainability funds. BT has also appointed Earle Macgregor to the new role of chief financial officer in the lead up to the proposed partial floating of the investment management division. BT’s core business is providing investment, superannuation and retirement income products, financial advice and insurance options. As at 31 March 2007, BT managed and administered over A$90 billion in funds.