Andrew Schlossberg

Being elevated to CEO as a long-standing member of Invesco’s leadership has been an honor and a privilege. I had the benefit of working closely with Marty for many years, which made for a very smooth transition over a period of months. We wanted to ensure our clients wouldn’t feel any disruption from the change in leadership. Knowing that I have an exceptionally strong leadership team and the firm has a strong culture also supported a smooth transition. We have established relationships, and there’s a strong, unified commitment to the firm.

The best preparation for this role was the many roles I had before – even ones that didn’t feel like a path to becoming CEO. In each role, I learned more about how the firm works, from the bottom up, and that helps tremendously when I have to make decisions. Having client exposure is also critical, and I spent many years learning what’s important to them, in terms of products and capabilities, as well as developing relationships I relied on as my career grew. For someone coming up in the ranks of a firm, I highly recommend taking those “stretch” assignments so that you fully understand the business.

You’re now several months into your tenure as CEO. What are your areas of focus for 2024 and what excites you most about what’s in store for this year?

Like all investment management firms, we’re experiencing tremendous shifts in market dynamics and in client needs and demands. Then there are ongoing geopolitical tensions and uncertainty about inflation and interest rates around the globe. These are just some of the factors that require us to be nimble. 

So, looking one to two years out we have a strong strategy in place to continue building enduring relationships and creating better outcomes for our clients. We understand clients want to concentrate relationships with fewer managers, and we are positioned well with a diverse and innovative suite of solutions and high-quality client service. In the near term, we are also focused on money coming off the sidelines and into fixed income as well as private markets capabilities.  

Your time at Invesco has given you the opportunity to work closely with many international markets, including the UK, Europe, the Middle East, and Africa. How have those experiences shaped how you think about culture and the importance of inclusivity?

I’ve been fortunate to work with Invesco in many locations and to experience distinct cultures. Living and spending time in various environments, you have both a greater appreciation for many of the similarities that naturally bind us but also the diverse perspectives and backgrounds that can come together to create ever better outcomes.

In a global business, you quickly learn that a group of people across diverse geographies might look at a particular challenge, and each person brings a unique perspective, viewpoint, and potential solution. Harnessing those diverse ideas into action doesn’t happen by accident – as a leader, you have to set the example of including everyone and truly valuing diverse input. I hear from our employees that our focus on diversity of thought is one of the most important aspects of our corporate culture.

The passage of the Secure Act and Secure 2.0 in 2019 and 2022 paved the way for increased access to in-plan annuity products. How do you see that market developing and what are the obstacles the industry will need to overcome to have success with this type of product?

The SECURE legislation contained several provisions that give employers more flexibility and removed some roadblocks to offering in-plan annuities to participants. Maybe even more important than the legislation itself, it has helped foster a shift in thinking among plan sponsors and in the industry on retirement income and how to best help participants draw down their savings.

In terms of obstacles, the fear of litigation is a big one among plan sponsors. The SECURE Act helped by eliminating much of the liability associated with hiring annuity partners, but there is still more education to be done. The idea of guaranteed income to cover basic expenses in retirement scored well, even with skeptics. It makes sense that annuities will play a vital role in retirement income solutions going forward.                            

What activities do you continue to pursue in your personal time for relaxation?