Invesco to cut about 40 jobs as it downsizes its Canadian operations

invesco-to-cut-about-40-jobs-as-it-downsizes-its-canadian-operations

From departments including sales to institutional clients

Author of the article:

Bloomberg News

Esteban Duarte

Published Apr 03, 2023  •  Last updated 3 days ago  •  1 minute read

Invesco Ltd.’s total assets under management for February fell by 1.7 per cent to US$1.458 trillion versus January. Photo by Igor Golovniov/SOPA Images/Sipa USA Invesco Ltd. is downsizing its operations in Canada amid renewed volatility in global financial markets, according to people familiar with the matter.

Advertisement 2 This advertisement has not loaded yet, but your article continues below.

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada.

Unlimited online access to articles from across Canada with one account Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on Enjoy insights and behind-the-scenes analysis from our award-winning journalists Support local journalists and the next generation of journalists Daily puzzles including the New York Times Crossword SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada.

Unlimited online access to articles from across Canada with one account Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on Enjoy insights and behind-the-scenes analysis from our award-winning journalists Support local journalists and the next generation of journalists Daily puzzles including the New York Times Crossword REGISTER TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors The Atlanta-based asset management giant is eliminating about 40 jobs from departments including sales to institutional clients, said the people who asked not to be name because the matter is private.

FP Work By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

“Invesco remains committed to the Canadian market. While we have streamlined operations, our strategic priorities in the region remain the same,” a representative for the company said in an emailed statement, without adding details of the reorganization.

Invesco’s total assets under management for February fell by 1.7 per cent to US$1.458 trillion versus January, amid unfavourable market returns, it said in March 9 statement.

The asset management industry has faced pressure to adapt as investors migrated from actively managed products, generating higher fees, to lower-cost alternatives tied to indexes. That has forced many firms to grow in private markets as well as hunt for deals, hoping combinations would help them build scale and keep operating expenses down.

Recommended from Editorial Veteran money managers bail on stock rally with Fed hawks flying Market volatility making your head spin? Here are 4 things to remember Investors take heed, corporate profit estimates are far too optimistic —With assistance from Silla Brush.

Bloomberg.com


Leave a comment

Your email address will not be published. Required fields are marked *