INVESCO reshuffles bank loan, CDO groups

Greg Stoeckle was promoted to head the bank loan group at INVESCO, where he has been a senior portfolio manager since 1999, according to an internal memo by George Baumann, the firm's head of global fixed income. The group managed more than $5.6 billion in bank loans through collateralized debt obligations, commingled and separate accounts at the end of 2004. Mr. Stoeckle replaces Anthony Clemente, the head of INVESCO's bank loan and CDO groups, who will continue to report to Mr. Baumann in a new role pursuing new business initiatives, the memo said. INVESCO spokesman Bill Hensel said Mr. Stoeckle will retain his current responsibilities and title as senior portfolio manager. Kevin Petrovcik will remain head of product management for financial structures and will report to Mr. Baumann as head of the CDO group.