AMVESCAP Names Martin L. Flanagan President and Chief Executive Officer
15 July 2005 - 7:01AM
PR Newswire (US)
AMVESCAP Names Martin L. Flanagan President and Chief Executive
Officer ATLANTA, July 14 /PRNewswire-FirstCall/ -- AMVESCAP PLC
(NYSE:AVZ) today announced that its Board of Directors has named
Martin L. Flanagan president and chief executive officer (CEO), and
a member of the Board of Directors, effective August 1, 2005. As
president and CEO, Mr. Flanagan, 45, will succeed current Executive
Chairman Charles W. Brady. Mr. Brady will continue as chairman of
the Board of Directors of AMVESCAP. Most recently Mr. Flanagan was
president and co-CEO of Franklin Resources, Inc., a global
investment organization operating as Franklin Templeton
Investments, since January 2004. He began his investment management
career at Templeton in 1983. "With his deep industry knowledge,
global experience and demonstrated leadership skills, Marty
Flanagan is the ideal CEO to lead AMVESCAP," said Mr. Brady. "He
has built a distinguished record of success leading all major
aspects of a global asset manager and earning the trust and respect
of clients and colleagues. With Marty's strategic vision and
AMVESCAP's core strengths, our company is well-positioned to
capitalize on the attractive opportunities the investment
management industry continues to offer." Robert Graham, AMVESCAP
vice chairman, added, "Having served with Marty on the Investment
Company Institute's Board of Governors and other industry
committees, I know firsthand that Marty is a proven industry leader
who possesses an absolute commitment to acting at all times in the
best interests of fund shareholders. His dedication to clients and
experience as an investment manager make him an ideal fit for
AMVESCAP's unique culture." "I feel very fortunate to be joining
one of the leaders in the global investment management industry,"
stated Mr. Flanagan. "With its singular focus on providing the best
in investment solutions for individuals and institutions, few
companies can match AMVESCAP's global scale, comprehensive array of
products and rich heritage of outstanding client service. As the
newest addition to AMVESCAP's dynamic team, I am extremely excited
about what we can accomplish together for our clients and
shareholders." SpencerStuart, the international executive search
firm, assisted the AMVESCAP Board of Directors in identifying Mr.
Flanagan. AMVESCAP is a leading independent global investment
manager, dedicated to helping people worldwide build their
financial security. Operating under the AIM, AIM Trimark, INVESCO,
INVESCO PERPETUAL and Atlantic Trust brands, AMVESCAP strives to
deliver outstanding products and services through a comprehensive
array of retail and institutional products for clients around the
world. The company is listed on the London, New York and Toronto
stock exchanges with the symbol "AVZ." Additional information is
available at http://www.amvescap.com/. This release may include
statements that constitute "forward-looking statements" under the
United States securities laws. Forward-looking statements include
information concerning possible or assumed future results of our
operations, earnings, liquidity, cash flow and capital
expenditures, industry or market conditions, assets under
management, acquisition activities and the effect of completed
acquisitions, debt levels and the ability to obtain additional
financing or make payments on our debt, regulatory developments,
demand for and pricing of our products and other aspects of our
business or general economic conditions. In addition, when used in
this report, words such as "believes," "expects," "anticipates,"
"intends," "plans," "estimates," "projects" and future or
conditional verbs such as "will," "may," "could," "should" and
"would," or any other statement that necessarily depends on future
events, are intended to identify forward-looking statements.
Forward-looking statements are not guarantees of performance. They
involve risks, uncertainties and assumptions. Although we make such
statements based on assumptions that we believe to be reasonable,
there can be no assurance that actual results will not differ
materially from our expectations. We caution investors not to rely
unduly on any forward-looking statements. In connection with any
forward-looking statements, you should carefully consider the areas
of risk described in our most recent annual report on Form 20-F, as
filed with the United States Securities and Exchange Commission
(SEC). You may obtain these reports from the SEC Web site at
http://www.sec.gov/. Martin L. Flanagan Biography Martin L.
Flanagan is president and chief executive officer, AMVESCAP, a
position he was named to in July 2005. Previously, he was president
and co- CEO of Franklin Resources, Inc., a global investment
organization operating as Franklin Templeton Investments, since
January 2004. While Mr. Flanagan was a president at Franklin,
assets under management increased from $224.9 billion (November 30,
1999) to $425.4 billion (June 30, 2005). Additionally, during the
period he was president, the total return of Franklin Resources,
Inc. stock was 171% (from November 26, 1999 to July 8, 2005). Prior
to that position, Mr. Flanagan was president and chief operating
officer (May 2003 to January 2004) and president and chief
financial officer (November 1999 to May 2003) at Franklin. He
joined Franklin in October 1992 with Franklin's acquisition of
Templeton, Galbraith & Hansberger Ltd., the manager and
operator of the Templeton Family of Funds, where he served as
director, executive vice president and chief operating officer. Mr.
Flanagan began his career at Templeton in 1983 where his experience
over the years ranged from finance to operations to investment
management as an equity portfolio manager and research analyst
covering the financial services sector. Before joining Templeton,
he worked as a staff auditor for Arthur Andersen & Co. Mr.
Flanagan is a member of the Investment Company Institute's Board of
Governors and was a member of the NASD Mutual Fund Task Force. He
received a bachelor of business administration and bachelor of arts
degree from Southern Methodist University. He is both a Certified
Public Accountant (CPA) and a Chartered Financial Analyst (CFA).
DATASOURCE: AMVESCAP PLC CONTACT: Doug Kidd, Managing Director,
Corporate Communications, +1-404-479-2922 (U.S.), or Angus
Maitland, Maitland Communications, +44-207-379-5151 (U.K.), both of
AMVESCAP PLC Web site: http://www.amvescap.com/
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