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Tuesday, May 28, 2013

An Invesco Manager's Death Points to Mystery Dealings

News summary by MFWire's editors

S. Mark Powell
Atlantic Trust Private Wealth Management
head of the Austin office
Since S. Mark Powell, a private wealth manager at Invesco, was found dead of undeclared causes on May 16, sources have told investigators that the deceased executive owed millions to multiple investors, according to the Wall Street Journal.

Powell led the Austin office for Invesco unit Atlantic Trust Private Wealth Management. Invesco previously unveiled plans to sell the Atlantic to the Canadian Imperial Bank of Commerce

The WSJ cited numerous, unnamed, sources who claimed to have had private dealings with Powell and allude to many others. The paper reports that Powell sought loans for a variety of private ventures, in turn promising large guaranteed returns.

These alleged business dealings did not see the light of day until his death.

For more turn to the The Wall Street Journal,

Nicole Spector contributed to this article 

Edited by: Tommy Fernandez

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