Hugh Ward has stepped down as head of Invesco's UK business. His departure means that Amvescap has new chiefs for two of its non-US units as a part of a shuffling in its corner offices. Rob Hain, 48, takes the reigns as CEO of Invesco UK. Hain's appointment opens the CEO and president slots of AIM Canada. Those posts are being filled Phil Taylor the current chief operating officer.

Ward left the firm for personal reasons, according to a statement. Hain has been a member of AMVESCAP's Executive Board since February 2001 and has been president and chief executive officer of AIM Funds Management Inc. in Canada since 1998.

"I'm delighted that Rob Hain will become CEO of our UK business. Rob joined AMVESCAP in 1998 and has an outstanding track record in the financial services industry," said Michael Benson, chief executive of INVESCO Global and vice-chairman of AMVESCAP. "Hugh approached me some time ago to tell me about his wish to step down and return to Jersey once a successor had been identified. We are grateful for the enormous contribution he has made to our business in the UK since joining the firm in 1996 and he leaves with our best wishes."

Taylor, 48, joined AIM in 1999. Prior to joining AIM he was president of Canadian retail broker Investors Group Securities Inc. and previously managing partner of Meridian Securities, a service brokerage for firms of financial advisors. 

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