Invesco Moves Swiftly After Its Acquisition of OppenheimerFunds
It's reasonable for investors to expect more changes.
Late Friday, Invesco announced several investment personnel changes, roughly one month after its acquisition of OppenheimerFunds closed on May 24, 2019. Some investment team members are shifting assignments, while some others have left or will leave the firm.
Change itself here is hardly a surprise. For one, Invesco has been transparent about its motivation for the acquisition--scale and efficiency--as it plays in an industry facing intense fee pressure. And two, Invesco made quick moves after a similar major acquisition in 2010 when it bought Van Kampen's suite of funds from Morgan Stanley. After the dust had settled back then, investment teams had been shuffled and funds had been combined or liquidated.
Bridget B. Hughes does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.