Amvescap Group has split its UK business into two divisions serving retail and institutional channel...
Amvescap Group has split its UK business into two divisions serving retail and institutional channels respectively, with Perpetual's Henley operation forming the retail hub.
The split into Invesco Perpetual and Invesco Institutional, both overseen by newly installed chief executive officer Rob Hain, sees Mike Webb named chief executive officer of Invesco Perpetual.
The Invesco Perpetual operation, which remains entirely intermediary-focused, is now the second largest retail fund manager in the UK. Sarah Bates is chief executive of Invesco Institutional, which will utilise Amvescap's global resources to manage a range of equity and fixed income products. It will be based at the old Invesco City of London offices.
Jeremy Lambourne has been named deputy to Hain and head of UK operations, over-seeing the group's activities including customer administration, fin- ance, human resources and IT.
Speaking to Investment Week last week, Hain promised a raft of new products from Invesco Perpetual, including a differentiated range of style funds.
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