View more on these topics

Invesco acquires Morgan Stanley retail business

Invesco Ltd. is to acquire Morgan Stanley’s retail asset management business for $1.5bn.

Morgan Stanley, which will now focus on the institutional space, will also receive a 9.4 per cent minority interest in Invesco. The deal is expected to conclude in mid-2010.

Invesco is to acquire $119bn assets under management from Morgan Stanley Investment Management.

Morgan Stanley co-president James Gorman says: “We believe a more streamlined, portfolio manager-led organization dedicated to fundamental research and active asset management will put us in an even stronger position to produce superior long-term investment results in equity, fixed income and asset allocation; develop durable products of appropriate size; and deliver first-class client service.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment