AIM and INVESCO will be realigned into separate divisions, effective Jan. 1, parent AMVESCAP announced today. The INVESCO division will include INVESCO Funds Group, INVESCO Institutional and INVESCO Global; the AIM division will include AIM Funds and AIM-Trimark Funds. INVESCO Retirement, the 401(k) record-keeping and administration arm, will be a separate unit called AMVESCAP Retirement. AMVESCAPs Managed Products division will be dissolved.
The changes are "a natural evolution of our businesses, Charles Brady, executive chairman at AMVESCAP, said in a statement. "By pulling together our like-branded businesses, we can simplify our company for clients and intermediaries.