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Rating:Shakeup at Invesco UK Not Rated 3.2 Email Routing List Email & Route  Print Print
Thursday, May 15, 2003

Shakeup at Invesco UK

by: Sean Hanna, Editor in Chief

The changes continue at Amvescap. The London-based parent to AIM and Invesco in the United States said that it will reorganize its London-based operations in its latest move. Earlier this spring the firm said it will merge the fund distribution team of Invesco Funds into AIM Funds distribution force.

This week Amvescap said it would restucture its United Kingdom unit into three core businesses. The units would cover investment, distribution and operations.

The first reported change resulting from the restructuring will be the closing of Invesco UK's London investment office. The functions of the office will be relocated to a second office outside of London, according to a report carried by Reuters and that the two investment teams would be merged.

The report adds that "quite a number" of investment staff plan to leave Invesco UK because of the change.

The news agency quotes Bob Yerbury, Invesco's chief investment officer, as saying that: "We will be managing the investment function with a smaller number of people than we had in the two locations." 

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