Invesco
From Wikipedia, the free encyclopedia
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| Type | Public (NYSE: IVZ) |
|---|---|
| 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 management: real estate, distressed investing, bank loans, quantitative equity, fundamental equity, Fixed income, hedge funds, Fund of funds and environmental investing |
| Revenue | US $3,878.9 million (2007)[1] |
| Operating income | ▲ US $994.3 million (2007)[1] |
| Net income | US $673.6 million (2007)[1] |
| Employees | 5,475 (2007)[1] |
| Website | www.invesco.com |
Invesco Ltd., NYSE: IVZ) is an independent investment management company that is incorporated in Bermuda, headquartered in Atlanta, Georgia and trades on the New York Stock Exchange. Its common stock is a constituent of the S&P 500, the S&P 500 Value index, Russell 1000 and the Russell MidCap Indices. It has branches in 20 countries,[2] with more than half of its business in the United States.[2] Invesco operates under the Invesco, 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 with the merger between Invesco PLC and AIM Investments.[3] Upon completion of the merger the company adopted the name Amvescap.
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.[3] Invesco allows its investment centers 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.
In 2004, the company agreed to a $450 million settlement with the Attorneys General of New York, Colorado and the SEC after allegations of improper trading practices.[4]
In 2005, Martin Flanagan was appointed Chief Executive Officer.CEO[5] Since that time the company has been restored to profitability. In May, 2007, along with shareholder approval, the company changed the name back to Invesco PLC.
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] Total assets under management at the end of June 2008 were $461.3 billion.[8]
It announced the anticipated listing of the PowerShares Global Progressive Transportation Portfolio (PTRP) on Sept. 18, 2008, on the Nasdaq Stock Market. The PTRP is based on the Wilder NASDAQ OMX Global Energy Efficient Transport Index.[9][10]
[edit] Key financial statistics
| Year Ending | Operating Revenue | Net Income | Assets Under Management | Employees |
|---|---|---|---|---|
| 31 December 2008 | $3,307.6 million | $481.7 million | $357.2 billion | 5,325 |
| 31 December 2007 | $3,878.9 million | $673.6 million | $500.1 billion | 5,475 |
| 31 December 2006 | $3,246.7 million | $482.7 million | $462.6 billion | 5,574 |
| 31 December 2005 | $2,872.6 million | $219.8 million | $386.3 billion | 5,798 |
[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
- Invesco Trimark
- Invesco PowerShares
- Atlantic Trust Private Wealth
- Exchange-traded fund
- Stein Roe
- Sustainable transportation
- WL Ross & Co
- World Business Council for Sustainable Development
[edit] References
- ^ a b c d "Annual Report 2007" (PDF). Invesco. http://www.invesco.com/invest/reports/annrpt_07.pdf. Retrieved on 2008-08-24.
- ^ a b "Company overview". Invesco. http://www.invesco.com/about/index.html. Retrieved on 2007-12-07.
- ^ a b "Company history". Invesco. http://www.invesco.com/about/history.html. Retrieved on 2007-12-07.
- ^ Timmons, Heather (8 September 2004). "2 Fund Groups to Pay $450 Million to End Inquiry". The New York Times. http://www.nytimes.com/2004/09/08/business/08place.html. Retrieved on 2008-08-04.
- ^ Treanor, Jill (1 August 2005). "Amvescap to pay Flanagan £28m". The Guardian. http://www.guardian.co.uk/business/2005/aug/01/5. Retrieved on 2007-12-11.
- ^ Invesco (14 November 2007) (PDF). Invesco PLC Shareholders Approve Relisting on the New York Stock Exchange. Press release. http://www.invesco.com/media/press_releases/2007_11_14.pdf. Retrieved on 2007-12-01.
- ^ "LSE to replace Invesco in UK's FTSE 100". Reuters. 30 November 2007. http://investing.reuters.co.uk/news/articleinvesting.aspx?type=allBreakingNews&storyID=2007-11-30T080021Z_01_L30278526_RTRIDST_0_FTSE-INVESCO.XML. Retrieved on 2007-12-01.
- ^ Invesco (9 July 2008) (PDF). Invesco Ltd. Announces June 30, 2008 Assets Under Management. Press release. http://www.invesco.com/media/press_releases/2008_07_09.pdf. Retrieved on 2008-08-04.
- ^ "Invesco PowerShares to list Global Progressive Transportation ETF". http://www.invescopowershares.com/news/pdf/NR%20082608%20PWSH%20Progressive%20Transportation.pdf. Retrieved on 2008-12-25.
- ^ "Green Transportation Fund Set to Launch". http://www.greentechmedia.com/articles/green-transportation-fund-set-to-launch-1386.html. Retrieved on 2008-12-25.
