BT Funds NZ
- Using the balanced scorecard


"Financials alone will never get you there. It gets us away from (only discussing) pure financials."

C. Stobo
CEO BT New Zealand



  • At the end of 1999, BT Financial Group in Australia and New Zealand (BTFG) found itself in an uncertain and unstable environment as a consequence of the corporate acquisition and subsequent break-up of the former Bankers Trust group.
  • Both for employees, and externally, for the market and advisers, there was uncertainty about 'who is BT now?' Along with a lack of direction and constantly changing priorities, this manifested itself in a contraction of the BTFG business.
  • There was a need to refocus the company, rebuild market presence and regain a shared sense of purpose as an organisation. The Group CEO instigated a process using the Balanced Scorecard to accomplish this.
  • The NZ CEO, bringing unique insight into corporate performance from his prior role as Chief Investment Officer, knew that it was paramount for his organisation to look forward and focus on leading indicators of success.


  • Jennifer Smokevitch, Roundtable Consulting head in Sydney, led the effort to develop, cascade and localize the Balanced Scorecard for the BT New Zealand organisation.
  • A fast-track process was developed that closely involved a BT project team who had Balanced Scorecard experience, and enabled them to further enhance their skills and knowledge.
  • Working collaboratively with the NZ CEO and Management Team, Jennifer advised and facilitated the redefinition of the local vision, creation of a 'strategy map' which articulated longer-term business objectives, development of strategic performance indicators and business improvement initiatives.
  • An on-going governance and communication process was developed with close consideration to the New Zealand organisation culture, to support the Management Team in their on-going use of the Balanced Scorecard.



BT New Zealand was named 'Funds Manager of the Year, 2001' by Morningstar'

Staff felt so positive about their improved workplace that they voted it the 'Best place to work', in a 2002 survey by Unlimited Magazine.

"By using a very participative approach we were able to discuss and reach consensus about the really important issues facing the business. The Balanced Scorecard provided the team a level of togetherness since we now share a strong sense of purpose."

(C. Stobo, CEO)
  • For the BT New Zealand team, the Balanced Scorecard became integral to how they managed the business. It fostered engagement across the organisation by enabling everyone to clearly understand the goals of the business and how they contribute.
To learn more about the complete Balanced Scorecard initiative at BT across Australia and New Zealand, please download the full case study below.

develop/implement strategy

MGT TEAM PERFORMANCE

"Staff felt so positive about their improved workplace that they voted it the 'Best place to work', in a 2002 survey by Unlimited Magazine."


C. Stobo
CEO BT New Zealand