Westpac has shifted its general insurance operation into an expanded Consumer division, in what the bank says is a bid to make it easier to meet the needs of retail customers.

The change is part of a restructure that will see Westpac exit provision of personal financial advice through its own employees and authorised representatives. That ends BT Financial Group’s operation as a standalone division.

Insurance has been part of BT Financial, which is being divided between the Consumer and Business teams.

Private wealth, platforms and investments, and superannuation will go into the Business division.

“We’re realigning our capabilities into the lines of business where it makes most sense based on customer needs,” CEO Brian Hartzer said.

“These changes allow us to focus investment in areas where we have a competitive advantage, such as platforms and insurance.”

The move follows previous strategic decisions about how the group operates in wealth and its partnering with Allianz to provide certain insurance products, Mr Hartzer says.

“We are committed to supporting our customers’ insurance, investment and superannuation needs as part of our service strategy.”

The Consumer division will be led by current Business Bank CEO David Lindberg. Alastair Welsh will lead Business, with the divisional changes effective from April 1.

About 175 Westpac-employed financial advisers, managers and support staff will go to national group Viridian Advisory under a sales agreement.