Joseph Portera, chief investment officer, high-yield and multisector credit for Invesco's fixed-income business, will retire effective Jan. 1.
He will not be directly replaced. Michael D. Hyman, CIO, global investment-grade and emerging markets for Invesco's fixed-income business, will take on an expanded role to include leading the high-yield and multisector credit teams, according to a news release.
Niklas Nordenfelt, head of high yield for Invesco's fixed-income business, will report to Mr. Hyman and also work with him on multisector credit products, the news release said.
As of Sept. 30, Invesco had $1.22 trillion in assets under management, of which $276 billion was in fixed income.
Invesco spokeswoman Jeaneen Terrio could not be immediately reached for further information.