Hyderabad, Mar 24:Invesco, a US based asset management company with more than $615 billion in assets. It manages assets for retail, institutional and high net worth clients in many countries. The company opened its third largest global scale facility in Hyderabad. This facility will serve the needs of the company at a world wide needs.
The office is located in the campus facility under the special economic zone which is being developed by the DivyaShree group. The office facility for Invesco will occupy 100,000 square foot. Inauguration of the facility was done by K Ratna Prabha IAS Principal Secretary , Government Information Technology and Communications Department, Government of Andhra Pradesh. Also present were President and CEO Martin L. Flanagan, CFO Loren Starr, and other top level executives of Invesco
“I"m pleased to join our colleagues and celebrate the opening of Invesco Hyderabad, which we view as a critical part of our long-term success,"said Flanagan. He further added, “Invesco manages more than $615 billion in assets for retail, institutional and high net worth clients in more than 100 countries. Invesco"s Hyderabad enterprise center will serve as part of an overall strategy to expand Invesco"s global operating model, supporting the worldwide demands of our business."
The facility in Hyderabad has 600 employees. The facility will be part of the global operations. Deena Harapanahalli, Country Head-Invesco said, "The new facility will deliver investment operations, transfer agency administration and servicing, information technology, global procurement and finance services for Invesco global clientele.
Invesco has been on the look out for an opportunity to enter India through acquisition or otherwise for past five years. But either the valuations were too high or the investment process lacked the appeal. As Flanagan said to the media, “We will continue to be opportunistic to determine a time when we think it might make sense to have a local asset management business here in India."
Based in Atlanta, US, Invesco has more than 5,000 employees and operates from more than 50 offices in 23 countries and territories.