Invesco's PowerShares has hired a product developer. Thomas Centrone has joined the firm in the newly created post of senior vice present, international product development manager. Centrone is no stranger to PowerShares, having worked on service delivery models for new ETF products, including PowerShares' ETFs, in his previous role of vice president of new product development and ETF product manager at Bank of New York.
Company Press Release
CHICAGO, May 29, 2008 – Invesco PowerShares Capital Management LLC announced today that Thomas Centrone has filled a new position of Senior Vice President, International Product Development Manager.
Mr. Centrone, who comes to Invesco PowerShares with more than 35 years of experience in the financial services industry, primarily will be responsible for the coordination and implementation of PowerShares' exchange-traded funds (ETFs) outside the U.S. As Invesco PowerShares broadens its depth and breadth of ETFs internationally, Mr. Centrone will work to develop a thorough understanding of the investment processes used in the various portfolios.
"We are pleased to bring aboard someone with the extensive background and experience of Thomas Centrone," said Ben Fulton, executive vice president, Global Product Development of Invesco PowerShares. "This new position will serve a vital role in educating our new international clients and potential shareholders to the benefits of the ETF structure and the intelligently designed portfolios we intend to bring to market."
Mr. Centrone had served as vice president-new product development and ETF product manager for The Bank of New York since 1997. In that role he was responsible for the development of service delivery models for all new ETF products, including the PowerShares ETFs.
Previously, Mr. Centrone worked as vice president-new product development at Chase Manhattan Bank from 1995-97. He began his career in 1970 at United States Trust Company (through 1978) and also served at The Bradford Trust Company (1978-1985) and again at United States Trust Company (1985-1995).
Invesco PowerShares is leading the intelligent ETF revolution through its family of more than 100 domestic, international and active exchange-traded funds. With assets under management as of April 30, 2008 of $13.86 billion, PowerShares ETFs trade on all of the major U.S. stock exchanges that trade ETFs. For more information, please visit us at www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global investment management company dedicated to helping people worldwide build their financial security. By delivering the combined power of its distinctive worldwide investment management capabilities, including AIM, Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco provides a comprehensive array of enduring investment solutions for retail, institutional and high-net-worth clients around the world. Operating in 20 countries, the company is currently listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Shares are not individually redeemable and owners of the shares may acquire those shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations only, typically consisting of 100,000 shares.
Invesco Aim Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust I, the PowerShares Exchange-Traded Fund Trust II, the PowerShares Actively Managed Exchange-Traded Fund Trust and the PowerShares India Exchange-Traded Fund Trust.
Invesco PowerShares Capital Management LLC., Invesco Aim Distributors, Inc. and Invesco Institutional (N.A.), Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
An investor should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For this and more complete information about the Funds call 800.983.0903 or visit the website www.invescopowershares.com for a prospectus. Please read the prospectus carefully before investing.
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