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Invesco splits functions

Invesco UK is realigning its business into three core functions in a bid to reduce overlap following the splitting of parent company Amvescap last year into two divisions, Aim and Invesco.

From this week, Invesco UK, which has almost £20bn under management, will be divided into functions concentrating on investment, operations and distribution.

Chief executive Rob Hain believes the move will enable the business to focus more clearly on client needs and its ability to deliver them.

As part of the changes, Invesco Perpetual chief executive Mike Webb will head distribution in the UK, a role covering retail and institutional sales, marketing and product management.

Chief operating officer of shared services Anthony Myers will become head of operations.

Investment – which encompasses all investment management in the UK – will be led by chief investment officer Bob Yerbury.

Retail sales will be headed by Andrew Williams, who joins Invesco from Canadian sister firm Aim Trimark. Marketing and product management will headed by Angus Woolhouse, who was previously in charge of retail marketing.

Webb says: “Our goal is to create a truly customer-focused distribution group which is product-neutral and which can draw on central areas of expertise to deliver the support our clients require.”

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