According to the announcement, the AIM division will include the AIM Funds businesses in the United States and the AIMTrimark business in Canada. Bob Graham, vice-chairman of AMVESCAP, will also become chairman of the AIM division, the announcement indicated.
The INVESCO division will include INVESCO Funds Group, INVESCO Institutional, and INVESCO Global. Michael Benson, vice-chairman of AMVESCAP, will also become chairman of the INVESCO division.
As part of this process, the Managed Products, Institutional, and Global divisions will be dissolved.
Additionally, the INVESCO Retirement division will be renamed AMVESCAP Retirement to reflect its mission of providing recordkeeping and administrative services to the defined contribution marketplace, offering both AIM and INVESCO products as part of its investment choices.
The Atlantic Trust Private Wealth Management division remains unchanged.
The changes, effective January 1, 2003, will also involve the appointment of Mark Williamson as chief executive officer of the AIM division, and John Rogers chief executive officer of the INVESCO division, the announcement said.