The overall chief and the investment chief at a 8.611-employee, $1.4-trillion-AUM (as of December 31), publicly traded fund firm are both passing the reins. The handoff involves one of the mutual fund industry's longest tenured chiefs stepping back.
| Andrew Ryan Schlossberg|
President- and CEO-Elect
Today, Richard Wagoner
, chair of the board of Invesco Ltd.
that Andrew Schlossberg
has been chosen
as the Atlanta-based firm's next president and CEO and that Stephanie Butcher
and Tony Wong
have been chosen as the firm's next co-heads of investments. (Wong and Butcher have also been named senior managing directors.) Schlossberg will take over on June 30, succeeding longtime chief Marty Flanagan
, who will retire from the company. Butcher and Wong are succeeding Greg McGreevey
, senior managing director of investments, who will stay on through March 31 as an advisor to his successors.
Schlossberg, who currentely serves as senior managing director and head of the Americas
at Invesco, will also join Invesco's board, while Flanagan will step down, becoming chairman emeritus through December 31, 2024. Meanwhile, Doug Sharp
, senior managing director and head of EMEA (Europe, the Middle East, and Africa), will succeed Schlossberg by becoming head of the Americas and EMEA (while also overseeing digital capabilities, ETFs, and SMAs worldwide).
Wagoner lauds Schlossberg for "a long and established track record of delivering a superior investment experience to clients, helping employees grow in their careers, and leading innovation and profitable expansion." Flanagan adds that Schlossberg is "an exceptional leader who is highly focused on delivering the best possible experiences for ... clients."
"Invesco has an exceptional foundation to provide investment excellence for our clients, innovate in our delivery and enhance the growth of our business," Schlossberg states. "We have a comprehensive range of in-demand investment capabilities, a strong global footprint and outstanding talent throughout the firm."
Schlossberg first joined Invesco in 2001, and since then his leadership roles have included: head of EMEA
, head of U.S. retail distribution
and global ETFs, U.S. chief marketing officer, and head of global corporate development. Earlier, he worked in equity research with Citigroup Asset Management. He is an alumnus of Northwestern University's Kellogg School of Management and of the University of Delaware.
has led Invesco for 18 years. He took over
back in 2005 when the firm was called Amvescap and had $375.4 billion in AUM. Earlier, he served as co-president and co-CEO of Franklin Resources, as COO and CFO of Franklin, and as COO of Templeton, Galbraith & Hansberger. He also worked at Arthur Andersen & Co. He is an alumnus of Southern Methodist University.
Sharp joined Invesco in 2008 and has since served in a variety of leadership roles, before taking over EMEA in 2019. Earlier, he worked with McKinsey and KPMG. He is an alumnus of Dartmouth's Tuck School of Business, of Georgia State University's J. Mack Robinson College of Business, and of McGill University.
Butcher joined Invesco in 2003 and rose to chief investment officer of EMEA in 2020. Earlier, she worked on the European equities team at Aberdeen. She is an alumna of the University of Cambridge.
Wong joined what is now Invesco back in 1996 and has risen up through the fixed income ranks. He took over as global head of fixed income investments in March 2019. He is an alumnus of the University of St. Thomas and of Southern Methodist University.
joined Invesco in 2011 after leading
Hartford Investment Management for three years
. Earlier, he held senior leadership roles at ING Investment Management
and Laughlin Asset Management. He is an alumnus of Portland State University and of the University of Portland.
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