Invesco chief retires: Successor named

Invesco chief executive Marty Flanagan will depart in June after 18 years in the top job.

Flanagan will be replaced by Andrew Schlossberg - the group's senior managing director and head of the Americas.

The incoming chief executive joined Invesco in 2001, during which time he held several leadership roles in the firm including senior managing director, head of EMEA and chair of the board of Invesco UK.

Flanagan  will also step down from the board at the end of his term but will be chair emeritus through 2024, providing advice and guidance.

In a release, the firm's chair G. Richard Wagoner said Flanagan's relentless focus on understanding and meeting client needs strengthened Invesco's global leadership position.

Under his watch, Invesco's assets under management swelled from US$400 billion to US$1.4 trillion.

"The board and I are extremely appreciative of Marty's many significant achievements during his 18 years at Invesco, which will have an enduring impact on the firm's long-term success," Wagoner said in the statement.

"The board and I are extremely appreciative of Marty's many significant achievements during his 18 years at Invesco, which will have an enduring impact on the firm's long-term success."

Speaking on the appointment, Flanagan said he had worked alongside Schlossberg throughout his career and found him to be "an exceptional leader who is highly focused on delivering the best possible experience for our clients."

"His leadership in the asset management industry and wide-ranging experience at Invesco position him well to bring next-generation leadership to the company and deliver for all our stakeholders."