Invesco Execs Say Deal is On Track to Close by Mid-Year
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Monday, February 1, 2010

Invesco Execs Say Deal is On Track to Close by Mid-Year

Invesco executives said last week that their acquisition of Morgan Stanley's retail asset management business is on track to close before the second half of the year.

"Fund shareholder consent process is on track to maintain closing before second half of 2010," according to a presentation given by executives last Thursday when they announced the Atlanta-headquartered firm's fourth quarter 2009 earnings.

Invesco officials also said that efforts to transition Van Kampen onto a single global operating platform "at close are on track."

With regard to clients, efforts are underway to develop joint client strategy teams to "prioritize growth initiatives for top 10 clients." Those top 10 clients, which were not identified in the presentation, account for 70 percent of combined 2009 sales.

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