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Morgan Stanley Plans To Sell Its Stake In Invesco

DOW JONES NEWSWIRES Invesco Ltd. (IVZ) said Morgan Stanley (MS) plans to sell its stake in the money manager, a sale Morgan Stanley President and Chief Executive James Gorman said will allow the investment bank "to reallocate capital into the firm's client-driven, flow businesses." Invesco's stock slid 5.1% to $22.01 in after-hours trading. It has about 460 million shares. Gorman said, "Invesco has become one of our key global partners across retail, asset management and institutional securities and we look forward to continuing to work closely together." Invesco completed its acquisition of Morgan Stanley's retail asset-management business earlier this year, a deal that included the Van Kampen fund unit. The deal provided to Morgan Stanley $800 million in cash and 30.9 million shares of Invesco. Last month, Invesco reported that its third-quarter earnings grew 47%, beating analysts' views, as the company's results were aided by the acquisition. Revenue jumped 35%, although operating margin fell. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
07/01/201512:00:00Invesco Closed-End Funds Declare Dividends
06/23/201509:14:00IT'S ALL ABOUT HOW YOU SAY IT: Investors Drawn to Alternative...
06/22/201517:05:00Invesco Advisers Announces Portfolio Management Changes for Invesco...
06/18/201515:53:06Annual Report of Employee Stock Plans (11-k)
06/15/201516:05:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
06/10/201508:32:21Current Report Filing (8-k)
06/09/201516:05:00Invesco Ltd. Announces May 31, 2015 Assets Under Management
06/03/201508:00:00Les investisseurs institutionnels se tournent vers les FNB à...
06/03/201508:00:00Institutional investors turning to smart beta ETFs - Seeking...
06/01/201512:00:00Invesco Closed-End Funds Declare Dividends
05/28/201516:33:32Statement of Changes in Beneficial Ownership (4)
05/27/201516:30:00Invesco Mortgage Capital Inc. To Present at the 2015 Morgan Stanley...
05/26/201516:30:00Invesco Mortgage Capital Inc. To Present at the Keefe, Bruyette...
05/26/201514:00:00Invesco PowerShares and FTSE Russell Expand Smart Beta Relationship...
05/26/201508:00:00Invesco PowerShares Announced Changes to ETF Family Take Effect
05/21/201516:15:00Invesco Canada simplifie et renforce sa gamme de produits
05/21/201516:15:00Invesco Canada simplifies and strengthens product lineup
05/21/201516:05:00Invesco Ltd. To Speak at KBW Asset Management and Capital Markets...
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201515:00:00PowerShares Canada annonce des distributions en espèces pour...

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