Marty Flanagan, the longtime chief executive officer at Invesco, announced his retirement on Wednesday, initiating a wave of leadership changes at the publicly traded, $1.4 trillion asset manager headquartered in Atlanta.
Flanagan, who was president and CEO of the firm, will vacate those positions on June 30 and continue to advise the company as chairman emeritus through the end of 2024. Andrew Schlossberg, a senior managing director and the head of the Americas region at Invesco, will become the new CEO and join the board of directors this summer, the company said in a statement.
“During his time at Invesco, Marty’s relentless focus on understanding and meeting client needs while building a world-class investment organization has helped Invesco strengthen its global leadership position and grow its assets under management from $400 billion to $1.4 trillion,” G. Richard Wagoner Jr., chair of Invesco’s board, said in a statement.
“Marty has built an inclusive and forward-looking culture that values employees and stakeholders of the company and has played a prominent role in business groups nationally and in Atlanta. 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.
Schlossberg is already a leader in the asset management industry, with an established track record of both investing and helping employees grow in their careers, Wagoner said. He has led innovation at Invesco and helped the firm grow, Wagoner added.
Schlossberg joined Invesco in 2001 and is active in the industry, serving on the board of governors and executive committee at the Investment Company Institute. He also previously served on the board and advisory boards of the U.K. Investment Association, ICI Global, TheCityUK, and the Diversity Project.
Flanagan, who worked alongside Schlossberg for years, complimented the incoming CEO in a statement. “I have every confidence that Andrew and the executive leadership team will build on our strong momentum to take the business forward,” he said.
Aside from the CEO transition, Invesco said Doug Sharp, senior managing director and head of EMEA, will expand his leadership role over the Americas and EMEA as well as his global responsibility for ETFs, separately managed accounts, and digital capabilities.
Greg McGreevey, a senior managing director and the head of investments, is also retiring. He oversaw the chief investment officers responsible for the U.S. growth equity, U.S. value equity, global core equity, international and global growth equity, systematic and factor investing teams, and fixed income.
Invesco’s private credit and private markets businesses were also McGreevey’s responsibilities, as well as global trading.
In addition, Stephanie Butcher, chief investment officer of EMEA, and Tony Wong, global head of fixed income investments, were named senior managing directors and co-heads of investments at Invesco.