BT gets new Wrap head

BT’s general manager of finance and risk, David Lees, is to become general manager of BT’s Super and Wrap Solutions business, following the resignation of Jason Yetton.

Lees will replace Yetton in mid February, reporting to BT chief executive Rob Coombe. Lees joined BT in 2005 as chief financial officer, and has been with the Westpac group for 11 years. Coombe said Lees would “hit the ground running” in his new role, having successfully managed during Yetton’s extended leave in 2007, and been through a leadership succession program. Yetton departed after 16 years with BT. He will not be immediately moving to a new role.

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Geopolitical risks rewire asset allocation ‘operating system’: GIC

Some investors are “missing the point” of geopolitical risks by equating them to the disruptions from conflicts and wars, according to GIC chief economist Prakash Kannan, but in reality, geopolitical risk is no longer episodic or peripheral. This means investors need to think harder about inflation and country composition in their portfolio.

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