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Invesco opens third largest global facility in Hyderabad

Source : IANS
Last Updated: Wed, Mar 23, 2011 15:40 hrs

Hyderabad, March 23 (IANS) Invesco Ltd, a global asset management company which manages more than $615 billion assets, opened its third largest global scale facility to serve its growing worldwide business needs.

Invesco President and Chief Executive Officer Martin L. Flanagan told reporters Wednesday that the 100,000-square facility will complement the company's global operations.

Though the firm has presence in India for four years, it was only last year that it started full-fledge operations with 25 employees.

The facility, with 600 headcount, is performing 18 functions including IT, investment operations, transfer agency administration and service, global procurement and financial services. 'We will continue to increase complexities of the work in Hyderabad,' Flanagan said.

Invesco manages assets for retail, institutional and high net worth clients in more than 100 countries.

The US-based firm has no asset management here but considers India an important market. 'We have no time-frame but if we come across something fantastic tomorrow we will do it,' he said when asked about plans for India.



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