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Tuesday, January 27, 2009|
Flanagan's Moves are Paying Off at Invesco, MarketWatch Says
MarketWatch's Sam Mamudi penned an article on the rebound at Invesco, attributing the turnaround to the changes president and CEO Martin Flanagan implemented since taking over the top job in 2005.
Mamudi notes that prior to the market's collapse in October, Invesco' stock had been trading above $20 for the previous two years. Invesco last saw that level in mid-2002. These days, Invesco's shares are roughly in line with the upper tier of publicly traded asset managers including Franklin Resources, BlackRock and Eaton Vance.
Since becoming Invesco's top executive, Flanagan simplified the organization, changed how its funds are managed and revamped the corporate culture. He also pulled the trigger on two deals, snapping up PowerShares Capital Management and WL Ross & Co.
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