Invesco Limited, an independent investment management company in US, has completed the acquisition of 49% stake in Indian financial services group, Religare Enterprises Limited.
The JV firm will be called Religare Invesco Asset Management and will be headed by Saurabh Nanavati, incumbent CEO of Religare AMC.
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Its mutual fund has been renamed as Religare Invesco Mutual Fund and its mutual fund schemes will be renamed accordingly.
Also, there has been a rejig in the boards of Religare with Andrew Lo, senior managing director and chief executive Asia Pacific – Invesco joining the same.
Also, Dean Chisholm, regional head of operations for Asia Pacific at Invesco has joined the Board of Directors of the Trustee Company.
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