Invesco
From Wikipedia, the free encyclopedia
| Invesco Ltd. | |
|---|---|
 |
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| Type | Public |
| Founded | 1935 |
| Headquarters | Atlanta, Georgia |
| Key people | Rex D. Adams, Chairman Martin L. Flanagan, President & CEO Phil Taylor, Sr Director James Robertson, Sr Director Mark Armour,Sr Director Diane Garnick, Investment Strategist Wilbur Ross, CEO WL Ross |
| Industry | Financial Services |
| Products | Investment Manager |
| Revenue | $2,414.6 million (2006) |
| Operating income | $785.4 million (2006) |
| Net income | $490.8 million (2006) |
| Employees | 5,499 |
| Website | www.invesco.com |
Invesco Ltd. (Amvescap PLC prior to May 2007, NYSE: IVZ) is an investment management company headquartered in Atlanta, Georgia. It is traded on both the New York Stock Exchange and on the Toronto Stock Exchange. Invesco is a constituent of the Russell 1000 Index and the Russell MidCap Index. It has branches in 20 countries,[1] with more than half of its business in the United States.[1] Invesco operates under the Invesco, Invesco Aim (AIM Investments prior to March, 2008), AIM Trimark, Invesco Perpetual, Atlantic Trust, WL Ross and Powershares brand names.
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[edit] History
The origins of the firm date back to December 1935, when Invesco was first incorporated. The company assumed its current form in 1997 from the merger between Invesco PLC and AIM Investments.[2] The name Amvescap was adopted after the merger, however, the company reverted back to the name Invesco in May, 2007.
Invesco has grown significantly through acquisitions since the turn of the century, gaining control of asset managers such as the ETF firm PowerShares Capital Management and the Wilbur Ross-led restructuring specialist WL Ross & Co.[2] Invesco allows its constituent firms to run their investment strategies independently, and differentiates itself by focusing exclusively on asset management and not offering brokerage, custody, or other services commonly offered by other asset managers.
The firm produced relatively weak results in the aftermath of the dot-com bubble, posting losses after goodwill amortization in 2003 and 2004.[3] Profits and funds under management have since recovered[3] (along with global equity markets) under the guidance of present CEO Martin Flanagan, who was appointed in August 2005.[4] Total assets under management at October 31, 2007 were $512 billion.[5]
After the close of trading on 3 December 2007, Invesco PLC moved its primary stock market listing from the London Stock Exchange to the NYSE and became domiciled in Bermuda, adopting the new name Invesco Ltd.[6] As a result, the company's shares were withdrawn from the FTSE 100 Index and added to the Russell 1000 index.[7]
[edit] Sponsorship
Invesco currently owns the corporate naming rights to INVESCO Field at Mile High, a stadium in Denver, Colorado.
[edit] See also
- Invesco Perpetual
- Invesco Institutional
- Invesco Aim
- AIM Trimark
- PowerShares
- Atlantic Trust Private Wealth
- WL Ross & Co
- Stein Roe
[edit] References
- ^ a b Company overview. Invesco. Retrieved on 2007-12-07.
- ^ a b Company history. Invesco. Retrieved on 2007-12-07.
- ^ a b Annual Report 2006: Five year summary. Amvescap plc. Retrieved on 2007-12-07.
- ^ Treanor, Jill. "Amvescap to pay Flanagan £28m", The Guardian, 1 August 2005. Retrieved on 2007-12-11.
- ^ Invesco (8 November 2007). "Invesco Plc Announces October 31, 2007 Assets Under Management". Press release. Retrieved on 2007-12-07.
- ^ Invesco (14 November 2007). "Invesco PLC Shareholders Approve Relisting on the New York Stock Exchange". Press release. Retrieved on 2007-12-01.
- ^ "LSE to replace Invesco in UK's FTSE 100", Reuters, 30 November 2007. Retrieved on 2007-12-01.
