Invesco has further expanded its London-based ETF team with the appointment of Tom Banks to the Business Development Team, responsible primarily for distributing the firm’s ETF range to the UK wealth market. He will report to Kate Dwyer, Head of UK ETF Coverage for Invesco EMEA.
Prior to joining Invesco, Banks worked in UK ETF Sales at HSBC Asset Management. He also worked for six years at J.P. Morgan Asset Management, most recently in UK ETF sales.
Banks’ appointment follows on from Stephanie Boukhalil joining Invesco’s UK ETF distribution team in mid-2021 to support growth in the family office market. Boukhalil brought to the team extensive fixed income experience through various sell side sales roles at firms such as J.P. Morgan and Société Générale.
The UK wealth management sector, including family offices and private banks, have been a major driver of ETF flows for Invesco in 2021 as these institutions have continued to allocate to ETFs and other ETPs.
Invesco saw strong ETF flows in the EMEA market in FY2021, with USD10.8 billion in net new assets and overall EMEA assets under management of USD67.5 billion at year-end, a 36.4 per cent increase in AUM and the largest among major issuers, the firm writes.
Strong flows were recorded into the firm’s core S&P 500, MSCI USA ESG Universal Screened and MSCI USA products, among others, with its Invesco Physical Gold ETC becoming the EMEA market’s largest gold ETP at USD14.3 billion. With the recent launch of a suite of ETFs meeting targets aligned with the UN-backed Paris Agreement on climate change, Invesco now has a total of 21 ESG ETFs.
Kate Dwyer, Head of UK ETF Coverage at Invesco EMEA, says: “We’re delighted to have someone of Tom’s calibre join our growing team and help meet the demand from the UK wealth sector for our suite of ETFs. We have seen strong growth across asset classes and product types and expect further demand as the underlying strengths of our low-cost ETFs and exchange-traded products have continued to attract greater numbers of investors.”