Invesco CEO Flanagan Will Step Down After 18 Years at Helm

Invesco Ltd. Chief Executive Officer Marty Flanagan will retire this year after 18 years running the firm, ending one of the longest reigns in asset management.

Flanagan, 62, built Atlanta-based Invesco into a $1.4-trillion manager heavy in active investment funds that expanded into passive and exchange-traded products as investors shifted to cheaper vehicles over the past decade. Its $164-billion ETF tied to the Nasdaq 100 has become a crown jewel of the company.

Flanagan will step down on June 30 and be succeeded by Andrew Schlossberg, 47, a senior managing director and head of the Americas for Invesco, the ...