Invesco announced Wednesday that its president and CEO, Marty Flanagan, is retiring at the end of June and will be succeeded by Andrew Schlossberg, currently the fund company’s senior managing director and head of Americas.
Flanagan is also stepping down from Invesco’s board, but will remain chairman emeritus through the end of 2024.
Flanagan had been with Invesco for 18 years, and G. Richard Wagoner Jr., chair of the Invesco board, noted in a statement that over that period, the firm’s assets under management grew from $400 billion to $1.4 trillion.
Invesco said Schlossberg will assume the roles of president and CEO on June 30. Since joining the fund company in 2021, he has served in positions including head of EMEA and chair of the board of Invesco UK, head of US retail distribution and global ETFs, and U.S. chief marketing officer and head of global corporate development.
Invesco said that Doug Sharp, senior managing director and head of EMEA, will now serve as head of the Americas and EMEA, and will have global responsibility for ETFs, SMAs and digital capabilities.
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“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
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