Invesco CEO Flanagan to Retire

Marty Flanagan is ending his nearly 18-year tenure as Invesco’s CEO and president, a period that saw the fourth-largest issuer of exchange-traded funds’ assets under management more than triple to $1.4 trillion. 

Flanagan, 62, steps down June 30 and will be replaced by Andrew Schlossberg, currently senior managing director and head of the Americas, according to a press release. Invesco currently has $358.9 billion in assets in 242 funds, according to ETF.com data. 

After his departure, his successor will have to guide the firm through rocky markets. Schlossberg takes over after what Flanagan termed as the “worst markets we’ve seen in decades,” after a “year of significant headwinds and volatility in global markets,” during his last earnings call in January.  

Last year, Invesco saw passive and active inflows shrink amid gyrating markets and geopolitical strife, while AUM grew. The firm’s adjusted diluted earnings per share came in at $0.39 for the fourth quarter of 2022, falling from $0.86 from the year prior. 

Flanagan will continue in an advisory role through the end of 2023 as the board’s chairman emeritus.  

Schlossberg, who joined the firm in 2001 and held a prior stint as head of U.S. retail distribution and global ETFs, among others, will assume the top role at the Atlanta-based firm at the end of June.

Alongside Schlossberg’s appointment comes a leadership shake-up. Doug Sharp, senior managing director and head of EMEA, will expand his current role to take global responsibility for ETFs, SMAs and digital capabilities. Stephanie Butcher, who serves as the chief investment officer for EMEA, and Tony Wong, global head of fixed income investments will serve as senior managing directors and co-heads of investments.  

Contact Shubham Saharan at [email protected]