Invesco
{{Short description|Investment management company}}
{{Use dmy dates|date=April 2022}}
{{Infobox company
| name = Invesco Ltd.
| logo = Invesco Logo.svg
| image =
| image_size =
| image_caption =
| type = Public
| traded_as = {{ubl|{{NYSE|IVZ}}|S&P 500 component}}
| ISIN = {{ISIN|sl=n|pl=y|BMG491BT1088}}
| foundation = {{Start date and age|1978}}
| location = Atlanta, Georgia, U.S.
| founder = Charles W. Brady
| key_people = {{Unbulleted list|Rick Wagoner (chairman)|Andrew Schlossberg (CEO)}}
| industry = Investment management
| products = {{ubl|Asset management|Wealth management|Alternative investment }}
| revenue = {{nowrap|{{increase}} {{US$|6.067 billion|link=yes}} (2024)}}
| operating_income = {{increase}} {{US$|832 million}} (2024)
| net_income = {{increase}} {{US$|538 million}} (2024)
| assets = {{decrease}} {{US$|27.01 billion}} (2024)
| equity = {{decrease}} {{US$|14.56 billion}} (2024)
| aum = {{increase}} {{US$|1.846 trillion}} (2024)
| num_employees = 8,508 (2024)
| subsid = {{ubl|Invesco Perpetual|Invesco PowerShares}}
| homepage = {{URL|invesco.com}}
| footnotes = {{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0000914208/000091420825000114/ivz-20241231.htm |title=Invesco Ltd. 2024 Annual Report (10-K) |publisher=United States Securities and Exchange Commission |date=25 February 2025}}{{cite web |title=Remembering Charles W. Brady, 1935 - 2019 |url=https://www.invesco.com/corporate/remembering-charlie-brady |website=Invesco |access-date=8 January 2022}}
}}
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange.{{cite web
|title = Company overview
|publisher = Invesco
|url = http://www.invesco.com/about/index.html
|access-date = 2007-12-07
|archive-url = https://web.archive.org/web/20071209201304/http://www.invesco.com/about/index.html
|archive-date = 2007-12-09
|url-status = dead
}} Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
History
Invesco (then officially spelled with all-capital letters: INVESCO) was founded in Atlanta in 1978 when Citizens & Southern National Bank divested its money management operations.{{Cite news | last = Karkaria | first = Urvaksh | title = Invesco moving global HQ to Atlanta | work = Atlanta Business Chronicle | access-date = 2014-10-08 | date = 2007-11-07 | url = http://www.bizjournals.com/atlanta/stories/2007/11/05/daily28.html?page=all }} In 1988, the company was purchased by the British firm Britannia Arrow, based in London, which later took the INVESCO name.{{Cite news | last = Chernoff | first = Joel | title = Invesco's U.K. business hit hard | work = Pensions & Investments | access-date = 2014-10-08 | date = 1994-07-25 | url = http://www.pionline.com/article/19940725/PRINT/407250732/invescos-uk-business-hit-hard }} In 1997 INVESCO PLC merged with AIM Investments.{{cite web | title = Company history | publisher = Invesco | url = http://www.invesco.com/portal/site/global/History/ | access-date = 2007-12-07 |url-status=dead |archive-url=https://web.archive.org/web/20101125231621/http://www.invesco.com/portal/site/global/History/ |archive-date=Nov 25, 2010 }} Upon completion of the merger the company adopted the name Amvescap.{{Cite news | issn = 0362-4331 | last = Wyatt | first = Edward | title = Invesco to Acquire AIM for $1.6 Billion | work = The New York Times | access-date = 2014-10-08 | date = 1996-11-05 | url = https://www.nytimes.com/1996/11/05/business/invesco-to-acquire-aim-for-1.6-billion.html }} In 2007 the company reverted to the Invesco name.{{cite web |last1=Coleman |first1=Murray |title=Amvescap officially switches name to Invesco |url=https://www.marketwatch.com/story/amvescap-officially-switches-name-to-invesco |website=marketwatch.com |access-date=7 June 2019 |date=May 24, 2007}}
Since 2000 Invesco has grown through acquisitions such as the ETF firm PowerShares Capital Management and the restructuring of WL Ross & Co.
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.{{cite news|url=https://www.nytimes.com/2004/09/08/business/08place.html|title=2 Fund Groups to Pay $450 Million to End Inquiry|last=Timmons|first=Heather|date=8 September 2004|work=The New York Times|access-date=2008-08-04}}
In May 2007 the company changed their name to Invesco (initial cap only) PLC, moved its primary stock market listing from the London Stock Exchange to the American NYSE and became domiciled in Bermuda, adopting the name Invesco Ltd.{{cite press release
|title = Invesco PLC Shareholders Approve Relisting on the New York Stock Exchange
|publisher = Invesco
|date = 14 November 2007
|url = http://www.invesco.com/media/press_releases/2007_11_14.pdf
|access-date = 2007-12-01
|archive-url = https://web.archive.org/web/20080512145645/http://www.invesco.com/media/press_releases/2007_11_14.pdf
|archive-date = 2008-05-12
|url-status = dead
}} As a result, the company's shares were withdrawn from the FTSE 100 Index and added to the Russell 1000 Index.{{cite news
|title = LSE to replace Invesco in UK's FTSE 100
|publisher = Reuters
|date = 30 November 2007
|url = http://investing.reuters.co.uk/news/articleinvesting.aspx?type=allBreakingNews&storyID=2007-11-30T080021Z_01_L30278526_RTRIDST_0_FTSE-INVESCO.XML
|access-date = 2007-12-01
}}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} In November 2007, Invesco moved its headquarters from London to Atlanta.
Invesco planned to list the PowerShares Global Progressive Transportation Portfolio (PTRP on the Nasdaq Stock Market).{{cite web | title = Invesco PowerShares to list Global Progressive Transportation ETF | publisher = Invesco | url = http://www.invescopowershares.com/news/pdf/NR%20082608%20PWSH%20Progressive%20Transportation.pdf | access-date = 2008-12-25}}{{cite web | title = Green Transportation Fund Set to Launch | publisher =Greentech Media | url =http://www.greentechmedia.com/articles/green-transportation-fund-set-to-launch-1386.html | access-date = 2008-12-25}} This fund was closed in 2010.{{cite web | title = Invesco PowerShares Announces Changes to ETF Family | publisher = CNNMoney| url =https://money.cnn.com/news/newsfeeds/articles/marketwire/0671657.htm | date =October 8, 2010}}
On October 19, 2009, Invesco bought Morgan Stanley's Retail Unit, including Van Kampen Investments for $1.5 billion.{{cite web|url=http://mfwire.com/article.asp?template=article&storyID=22977&wire=MFWire&wireID=2&bhcp=1|title=Invesco Pulls the Trigger on Van Kampen Deal|access-date=2009-10-20}}
In April 2010, Invesco Aim became Invesco. Later that year, it was reported that Invesco had plans to introduce a Risk parity commodity fund according to regulatory filings.Wall Street Journal, Oct 2 2010, How Risky Are Those Low Risks Funds? Eleanor Laise
In December 2013, Invesco reported assets under management (AUM) of $778.7 billion{{cite web|url=http://www.invesco.com/site/global/pdf/invest/media/press_releases/2014_01_30.pdf|title=Invesco Ltd. Announces December 31, 2013 Assets Under Management|access-date=January 30, 2014|archive-url=https://web.archive.org/web/20140202214920/http://www.invesco.com/site/global/pdf/invest/media/press_releases/2014_01_30.pdf|archive-date=February 2, 2014|url-status=dead|df=mdy-all}}
In September 2017, Invesco agreed to buy Guggenheim Investment's exchange-traded fund business for $1.2 billion in cash.{{Cite news|url=https://www.wsj.com/articles/the-price-invesco-is-paying-for-guggenheims-etf-business-1-2-billion-1506636178|title=The Price Invesco Is Paying for Guggenheim's ETF Business: $1.2 Billion|last=Baer|first=Justin|date=2017-09-28|work=Wall Street Journal|access-date=2017-10-04|language=en-US|issn=0099-9660}}
On October 18, 2018, Invesco purchased OppenheimerFunds from MassMutual for about $5.7 billion in stock.{{Cite web|url=https://www.thestreet.com/markets/invesco-will-buy-oppenheimerfunds-14749624|title=Invesco Will Buy OppenheimerFunds for $5.7 Billion in All-Stock Deal|date=2018-10-18}}
In March 2020 amid a major stock market crash triggered by the COVID-19 pandemic, Invesco Mortgage Capital Inc., a branch handling Real Estate Investment Trusts, announced they were unable to cover margin calls due to dramatic devaluations and investors selling shares.Patricia Clark (March 24, 2020). [https://www.thestreet.com/investing/invesco-unable-to-meet-margin-calls Invesco Mortgage Capital Warns It Can’t Fund Margin Calls], Yahoo Finance, accessed 24 March 2020 The company also announced they would delay dividend payments.{{cn|date=February 2025}}
In February 2025, a group of 17 U.S. state attorneys general criticized Invesco for making improper or inadequate disclosures about investments in China.{{Cite news |date=6 February 2025 |title=Top US asset managers face scrutiny from Republican state AGs over China funds |url=https://www.reuters.com/business/finance/top-us-asset-managers-face-scrutiny-republican-state-ags-over-china-funds-2025-02-06/ |access-date=6 February 2025 |work=Reuters}}
Financial statistics
References
{{reflist|2}}
External links
- [http://www.invesco.com/ Invesco Official website]
{{Finance links
| name = Invesco
| symbol = IVZ
| sec_cik = 914208
| yahoo = IVZ
| google = IVZ
}}
{{Major asset management companies}}
{{Authority control|state=expanded}}
Category:Companies based in Atlanta
Category:American companies established in 1935
Category:Financial services companies established in 1935
Category:Investment management companies of the United States
Category:Companies formerly listed on the London Stock Exchange
Category:Companies listed on the New York Stock Exchange
Category:Alternative investment management companies