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Thursday, October 31, 2002

AMVESCAP Realigns Divisions

by: Ki Kim

Effective January 1, AMVESCAP PLC will operate through two new divisions under its AIM and INVESCO brands. Mark H. Williamson will be the chief executive officer of the AIM division, and John D. Rogers will take that position at INVESCO.

The AIM division will include the AIM Funds businesses in the U.S. and the AIM-Trimark unit in Toronto. Bob Graham, vice-chairman of AMVESCAP, will also become chairman of the AIM division. The INVESCO division will include INVESCO Funds Group, INVESCO Institutional and INVESCO Global. Michael Benson, vice-chairman of AMVESCAP, will also take the chairman role at the new INVESCO division.

As part of this process, the Managed Products, Institutional and Global divisions will be dissolved. Additionally, the INVESCO Retirement division will be renamed AMVESCAP Retirement and will continue to offer both AIM and INVESCO products as part of its investment choices. The Atlantic Trust Private Wealth Management division remains unchanged.

"This realignment is a natural evolution for our business," says Charles W. Brady, executive chairman. "By pulling together our like-branded businesses, we can simplify our company for clients and intermediaries, and gain additional marketing leverage and synergies for AIM and INVESCO."

"Mark Williamson and John Rogers both have outstanding records of leadership in our business," he adds. 

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