Mr. Flanagan will be succeeded by Andrew Schlossberg, who currently serves as senior managing director and head of Americas, said a Wednesday news release.
Mr. Flanagan will continue as chairman emeritus through Dec. 31, 2024, "providing advice and guidance to the company," the release noted.
Douglas Sharp, senior managing director and head of EMEA, will "assume an expanded leadership role" as head of the Americas and EMEA, and will have global responsibility for exchange-traded funds, separately managed accounts and digital capabilities, the release added.
Mr. Sharp will work with Andrew Lo, senior managing director and head of Asia-Pacific, to "oversee a more globalized client-facing organization with a focus on better understanding and meeting client needs, employing both a regional and cross-regional approach," Mr. Flanagan said in the release.
In addition, Stephanie Butcher, chief investment officer of EMEA, and Tony Wong, global head of fixed income investments, were named senior managing directors and co-heads of investments.
A spokeswoman for Invesco confirmed by email that Ms. Butcher and Mr. Wong are retaining their prior roles while assuming their new titles.
Gregory McGreevey, senior managing director-investments, will retire from Invesco, but will serve as an adviser to Ms. Butcher, Mr. Wong and the firm on investment topics through March 31, 2023, the release added.
Invesco managed $1.4 trillion in assets as of Dec. 31.