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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‘Not an ATM’: Sicilia shrugs off private credit liquidity fears

The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.

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