Invesco Limited shakes up its distribution team

JUN 10, 2012
Invesco Ltd. is reorganizing its U.S. retail distribution team to make it more effective. The mutual fund firm is combining its U.S. retail-sales group with its marketing, product management and global exchange-traded-fund groups “to help ensure greater collaboration and effectiveness,” Invesco spokesman Ivy McLemore wrote in an e-mail last week. The newly unified group will be overseen by Andrew Schlossberg, who runs marketing, product management and the ETF group, which includes Invesco PowerShares. As part of the reorganization, Peter Gallagher, director of Invesco's retirement and platform sales since 2005, has been named the new head of U.S. retail sales, replacing John Cooper. Mr. Cooper has left the firm to pursue other opportunities, according to Mr. McLemore. Mr. Cooper couldn't be reached for comment by press time. Invesco's mutual funds had more than $2 billion of outflows for the 12-month period ended April 30, according to Morningstar Inc. [email protected]

Latest News

Envestnet agrees to buy Vestmark, adding institutional trading muscle
Envestnet agrees to buy Vestmark, adding institutional trading muscle

The deal gives Envestnet institutional-grade trading and tax technology alongside Vestmark's advisory client base

Savvy Wealth lands $100M to scale AI agents for advisors
Savvy Wealth lands $100M to scale AI agents for advisors

The AI-driven RIA has doubled its advisor base to over 150 this year and is on pace to top $100M in annual recurring revenue

Orion expands advisor trading, keeps oversight with firms
Orion expands advisor trading, keeps oversight with firms

New trading tools let advisors execute and rebalance client portfolios directly, while firms retain permission-based control.

Edelman Financial Engines brings fiduciary advice to small business plans
Edelman Financial Engines brings fiduciary advice to small business plans

New ADP-delivered solution gives small and mid-size businesses access to 3(38) fiduciary oversight and participant-level advice for one fee.

Hightower Signature Wealth adds $1.6B Boston-area firm
Hightower Signature Wealth adds $1.6B Boston-area firm

Boston Hill Advisors joins Hightower's national platform as the mega-RIA's latest Massachusetts move drives HTSW closer to its $50 billion target for 2026.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income