ATLANTA, Aug. 18, 2017 /PRNewswire/ -- Invesco Ltd.
(NYSE: IVZ) announced today that it has completed its acquisition
of Source, a leading independent specialist provider of
exchange-traded funds (ETFs) with approximately $18 billion of Source-managed assets, plus
approximately $8 billion of
externally managed assets under management (as of June 30, 2017).
The acquisition brings additional talent and a broad array of
ETFs that further expand the depth and breadth of Invesco's active,
passive and alternative capabilities and expertise, enhancing the
firm's ability to help clients achieve their investment
objectives.
The acquisition strengthens Invesco's ability to meet the needs
of institutional and retail clients in EMEA with the addition of
dedicated, on-the-ground ETF specialists spanning sales, marketing,
capital markets, and product management and development. The
combination further expands Invesco's presence in EMEA while
providing additional scale and relevance in the growing ETF market
globally.
"Since our announcement earlier this year, we've delivered
strong investment performance to our clients and strengthened our
business momentum while working toward a successful close of the
transaction," said Martin L.
Flanagan, president and CEO of Invesco. "The addition
of Source's specialist expertise and product innovation to
Invesco's strong and diversified range of investment capabilities
will further enhance our ability to meet the investment needs and
outcomes our clients seek."
"We're pleased that Mike Paul,
who previously served as executive chairman for Source, will assume
a new role in Invesco leading our ETF activities in EMEA," said
Andrew Schlossberg, senior managing
director and head of EMEA for Invesco. "The addition of Mike
and the tremendous talent of Source complements our market-leading
PowerShares capability and creates a highly competitive ETF
business in the European market. Our focus now is on taking
care of clients, further strengthening performance and growing the
business from day one of the combination."
About Invesco Ltd.
Invesco is an independent
investment management firm dedicated to delivering an investment
experience that helps people get more out of life. NYSE: IVZ;
www.invesco.com.
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SOURCE Invesco Ltd.