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Wednesday, December 11, 2019

A Founder of a $1.2T-AUM Titan Dies

News summary by MFWire's editors

The team at an asset management titan is mourning a fallen founder.

Charles William Brady
Charlie Brady, founder and chairman emeritus of Invesco [profile], died on December 7 at the age of 84, the Invesco team confirms. Brady died in Invesco's hometown of Atlanta.

P&I covered the news.

Charles William Brady, an Atlanta native, earned a degree in industrial development from the Georgia Institute of Technology. (He later served on the advisory board for Georgia Tech's College of Management.) He started his career working for a stock broker, then joined Citizens & Southern Bank. There he launched an RIA division registered with the SEC (a division the Invesco team claims was the first of its kind in the U.S.). Brady and several colleagues spun that unit out in 1978 to create Invesco, with $400 million in starting AUM. In the 41 years since, Invesco's AUM has grown to $1.2019 trillion in AUM (thanks in part to a host of M&A) as of November 30, 2019.

He rose to chairman and CEO of Amvescap (then Invesco's parent, later rebranded as Invesco). In 2006, he retired and became chairman emeritus.

Marty Flanagan, Brady's successor as CEO, remembers Brady as "a pioneer in the world of asset management, and an excellent leader." The Invesco team writes that Brady "was known as a master marketer, motivator, and negotiator."

"He was driven to make Invesco a global firm and never wavered from that goal. Invesco would not be where it is today without Charlie's vision, business acumen, and commitment to his firm and its people." Flanagan states. "We've lost a friend, a colleague, and a mentor."

Brady is survived by his wife, Nina, whom he married in 2017. 

Edited by: Neil Anderson, Managing Editor

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