Amvescap continues to tweak the structure of its US asset management units. In its latest move, the fund firm combined a pair of units and increased the responsibilities of two key executives. Earlier this year Amvescap also reorganized the distribution of its two retail fund units and announced a number of layoffs.

The new unit is the Invesco Alternatives Group. That unit consists of what were Invesco Private Capital and Invesco Realty Advisors. David Ridley, currently head of Invesco Realty Advisors, also becomes CEO of Invesco Alternatives Group, reporting to John Rogers, chief executive officer of Amvescap's Invesco division. The Alternatives Group is part of Invesco North America.

Meanwhile, Rogers relinquishes his title as CEO of Invesco North America. Taking over the title is Hubert L. (Herky) Harris, Jr., formerly the chairman and CEO of Amvescap Retirement. In his new role Harris will oversee the investment product groups based in Atlanta, Denver, Louisville, and New York. He will also retain his duties as chairman of the retirement group. Robert J. O'Connor, currently president and chief operating officer of Amvescap Retirement, becomes chief executive officer of the group.

In the final move, the firm promoted Tony Cox to head of Invesco's North American distribution business replacing Frank Keeler. Cox had been head of Invesco's Financial Institutions Group. Keeler is retiring at the end of 2003.

Cox will have responsibility for all sales, marketing, and relationship management functions, according to Invesco officials. Before that he had overseen retirement plan sales for Invesco.

"I want to personally thank Frank Keeler for his many years of service to Invesco and Amvescap," said Rogers in a statement. "Tony Cox has the right set of management skills and industry knowledge to continue our strong distribution efforts."  

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