BTFG CIO steps down after breaching code of conduct

BT Financial Group (BTFG) has confirmed to Industry Moves that chief investment officer, Martyn Wild, has left the firm, effective immediately, due to a breach of the Westpac Group's code of conduct.

In a statement from the firm, it was confirmed that this was not the first time that Wild had breached the code, with Clayton Utz undertaking a comprehensive and independent review of the initial allegations made against Wild.

BTFG CEO, Brad Cooper, said: "While some allegations were not substantiated, we immediately took disciplinary action, including a first and final warning in relation to those that were substantiated, Mr Wild then resumed his duties at BTFG. However, in light of recent developments we've agreed with Mr Wild that he will leave the business effective immediately."

"We're absolutely committed to having a workplace that reflects the company's values."

Cooper said appropriate conduct, and respect for other staff members was integral to Westpac and BT's culture.

Westpac confirmed Wild will not receive a bonus for this year nor any special termination payments.

Corrin Collocott, head of asset allocation, will assume CIO responsibilities in the interim.