Invesco Perpetual chief executive to retire

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Invesco Perpetual chief executive Mark Armour is to retire at the end of 2016 after nearly three years at the helm of the firm.

Armour joined Invesco in 2002 as chief executive of Invesco Australia. He was then promoted to the chief executive role in January 2013.

Andrew Schlossberg, the current head of US retail distribution and global ETFs, will become the new head of the business and work as chairman of the firm’s EMEA division in January next year until Armour retires.

Schlossberg joined Invesco in 2001 starting in the firm’s institutional and retirement groups in addition to leading business strategy and global corporate development. Prior to Invesco, Schlossberg was based in New York working at investment bank Salomon Brothers.

Invesco’s EMEA business has currently £113bn in assets under management growing from £89.7bn in January 2013.