UK – Amvescap, the US$400bn (€448bn) investment manager, has appointed Rob Hain as chief executive officer to its London-based subsidiary, Invesco UK. Hain replaces Hugh Ward, who has said he wishes to step down for personal reasons and to return to Jersey. Ward has been with Invesco UK since 1996.

Hain is presently CEO of Toronto based AIM Canada. AIM and Invesco are the brand names under which Amvescap mainly operates. Phil Taylor, AIM Canada’s chief operating officer and executive vice president, will replace him in Toronto.

Hain has been a member of Amvescap’s executive board since the beginning of last year, having been CEO and president of AIM Funds Management in Canada since 1998.

Says Michael Benson, chief executive of Invesco Global and vice-chairman of Amvescap: “I am delighted that Hain will become CEO of our UK business, he has an outstanding track record in the financial services industry.”