Invesco has announced that it will be dropping the Perpetual and PowerShares brands in a move to have one unified global brand.
Although the changes will not be immediate Invesco expects to complete most of the work merging the brands in 2018. The Trimark brand will also be phased out as part of the process.
Marty Flanagan (pictured), president and CEO, said: ‘Invesco is a well-recognized brand in many of the markets in which we operate. Moving to a unified brand globally strengthens our ability to market our comprehensive range of capabilities more effectively and contributes to a consistent client experience across multiple markets.
‘In the case of PowerShares, we will build on its reputation as an innovative pioneer in factor and smart beta. In the case of Perpetual, we will focus on preserving its reputation for a distinctive investment management philosophy and approach which has helped clients achieve their investment objectives for many years.’
Invesco announced in its full year results for 2017 that it has $937.6 billion (£660 billion) asset under management globally.
Based in the UK, Invesco Perpetual currently manages £91.59 billion of assets.
Perpetual was founded by Sir Martyn Arbib and became a part of the Amvescap in 2000. Subsequently, in 2008, the group was rebranded as Invesco.
Invesco acquired index fund business PowerShares in 2006, which currently manages $139 billion of assets.
Last year, the PowerShares business signed a deal to buy ETF firm Source. It then went onto acquire Guggenheim Partners’ ETF unit in September in a transaction worth $1.2 billion, which will when fully integrated add a further $37 billion to its assets under management.
Dan Draper, global head of ETFs, commented: 'With its acquisition of Source and its planned acquisition of Guggenheim Investments’ ETF business, Invesco has demonstrated serious commitment to expanding our highly diversified suite of ETFs.
'As we focus to providing meaningful solutions to help clients achieve their investment objectives, we will transition PowerShares to the Invesco brand, which encompasses our full range of active, passive and alternative capabilities.'