finishes its acquisition of Morgan Stanley
's retail asset management business (including Van Kampen
), the union will eliminate
60 jobs from the combined sales organization, an Invesco Aim
spokesperson confirmed to The MFWire
The deal is expected to close at the end of the second quarter.
There will be a total of 375 people in the combined sales force led by John Cooper
, president and CEO of Invesco Aim Distributors.
, currently head of the wirehouse channel for Invesco,
will have the same role at the combined organization supported by 33 wholesalers. Brian Lee
, senior director of sales and channel development at Invesco, will run the planner channel with 30, Andrew Scherer
, managing director of the intermediary channel at Van Kampen, will
oversee the RIA channel with five and Mark McClure
, who runs the broker-dealer
channel at Van Kampen, will head up the independent broker-dealer channel with 27 wholesalers.
Invesco's Terri Fielder
will continue as head of national accounts management.
will remain director of sales and institutional business development, in charge of DC, insurance and sub-advisory sales via
home offices. That team will consist of 12 people. Terry Kelly
will remain director of sales, retirement and insurance division.
The number of retirement consultants will
go from nine to 12, according to the Invesco spokesperson.
Armie Margaret Lee
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