Invesco announced on Wednesday that Marty Flanagan will retire as president and CEO on 30 June 2023. He will continue as chairman emeritus until 31 Dec 2024, providing advice and guidance to the company.
The Invesco board of directors named Andrew Schlossberg, senior managing director and head of the Americas, to succeed Flanagan.
Invesco board chair G. Richard Wagoner Jr said: “During his time at Invesco, Marty’s relentless focus on understanding and meeting client needs while building a world-class investment organisation has helped Invesco strengthen its global leadership position and grow its AUM from $400bn to $1.4trn.”
He continued: “Andrew has 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 across our global business. His leadership in the asset management industry and wide-ranging experience at Invesco position him well to bring next-generation leadership to the company and deliver for all our stakeholders.”
Schlossberg has been in the asset management industry since 1996 and with Invesco since 2001. He has served in multiple leadership roles across the company’s businesses and locations. Prior to his current position, he was based in Invesco’s UK office as senior managing director, head of Emea and chair of the board of Invesco UK.
Before the UK, he served as head of US retail distribution and global ETFs and, prior to that, was US chief marketing officer and head of global corporate development.
Doug Sharp, senior managing director and head of Emea, will assume an expanded leadership role as head of the Americas and Emea, and global responsibility for ETFs, SMAs and digital capabilities.
“Doug will work with Andrew Lo, senior managing director and head of Asia Pacific, to oversee a more globalised client-facing organisation with a focus on better understanding and meeting client needs, employing both a regional and cross-regional approach,” Flanagan said. “This will enable us to take the breadth of skills and the quality that exists across our people, our technology and our capabilities and create a more tightly coupled set of linkages across investments, distribution, marketing and product to sharpen the focus on meeting the needs of our clients.”
Sharp has served in his current role since 2019. He joined Invesco in 2008 from McKinsey & Co and has served in multiple leadership roles across the firm
Invesco also announced that Stephanie Butcher (pictured), CIO of Emea, and Tony Wong, global head of fixed income investments, have been named senior managing directors and co-heads of investments.
In addition, Greg McGreevey, senior managing director of investments, has decided to retire from the firm. He will serve as an advisor to Butcher, Wong and the firm on investment topics through 31 March 2023.
