Flanagan succeeds current president and CEO Charles Brady. According to a news release, Brady will continue his position as chairman of the Board of Directors of Amvescap.
Flanagan, 45, was president and co-CEO since 2004 of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton Investments, according to the news release. He began with Franklin Templeton in 1983.
“With his deep industry knowledge, global experience and demonstrated leadership skills, Marty Flanagan is the ideal CEO to lead AMVESCAP,” Brady said in the announcement.
Now that the new CEO has been named for its parent company, AIM Investments can begin looking for a replacement for CEO Mark Williamson who announced he would be stepping down as soon as a replacement was found (See AIM’s Williamson to Step Down ). In April, Robert O’Connor, president and CEO of Amvescap Retirement, Inc., another subsidiary of Amvescap PLC, announced his retirement along with the purchase of the defined contribution recordkeeping business by Merrill Lynch (See RK Consolidation Continues: Merrill Scoops Up AMVESCAP RK Operations ).
More information can be found at www.amvescap.com .