Invesco sheds head of retail amid shakeup
Invesco Asset Management has shaken up its retail sales division and will combine the positions of head of retail and institutional sales as part of the rollout of a revised sales and service structure.
As a result, the head of retail sales John Ntatsopoulos will exit the business after a two year stint, and his duties will be included in the combined role which will be filled by the head of institutional sales, Tony McFadyen.
The move to combine the two sales divisions comes several months after the group’s merger with County Investment Management.
The new structure will be known as Alliances and Relationship Development and was developed by Invesco’s marketing strategy team, headed up by John Mann.
He says the reason for the change was Invesco felt retail and institutional markets were blending with master trusts, and this was an attempt to service the changing markets.
“To become market focused, you need to look at the major areas of the market and we identified three major areas,” Mann says.
“It is quite a major change for an organisation, to move away from traditional lines of sales to be truly market focused. It will be a challenge for us but we have a lot of competent people and the skills in the organisation to match that.”
Ntatsopoulos says he would not take any time off but search for a new role, possibly away from the retail market.
“Conceptually there was only room for one top position, and it wasn’t me. Everything is very amicable, this is just a reality of business,” Ntatsopoulos says.
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