Parsons steps down at Invesco
MichaelParsons has stepped down as chief executive officer of Invesco Australia, citing personal reasons as the driving force behind his decision to leave the company.
Parsons had been forced to relocate from Sydney to Melbourne after Invesco bought County in 1999 and moved its headquarters to the Victorian capital.
“I am leaving for personal reasons, because of the increased need to spend more time in Melbourne away from my home in Sydney,” Parsons says.
Invesco has announced that Mark Armour, the former chief investment officer at the ANZ Bank, will step in to replace Parsons.
Armour left ANZ after it signed a funds management joint venture with ING, which effectively saw the ANZ’s funds management capabilities outsourced to the Dutch group.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
