Invesco’s European equities head Jeff Taylor will retire from his role at the end of 2020, after more than two decades at the Henley-on-Thames-based company, Investment Week has learned.
John Surplice, co-manager alongside Taylor on the Invesco European Equity fund, will take over Taylor's role as head of European equities.
Invesco said the pair will work together for the rest of the year as co-heads before Surplice assumes the role solely from 1 January 2021. Invesco added the investment strategy and process across portfolios will remain unchanged.
In addition, Invesco has hired James Rutland from Schroders for its European equities team. Rutland will co-manage the Invesco Pan European Focus Equity fund and the Invesco European Opportunities fund alongside Surplice.
Rutland had worked for Schroders' European equities team for five years, co-managing the Schroders ISF European Alpha Focus and Schroder ISF European Opportunities funds since 2016.
Invesco CIO Stephanie Butcher thanked Taylor for his "dedication to clients… and his role in building a team of highly talented and experienced investment professionals".
Butcher continued: "[Taylor] has always placed a huge amount of importance on nurturing talent and supporting career progression and his leadership has ensured that there is great strength and depth across the European equities desk.
"I would like to add my personal thanks for all the support he has given me over the many years I have worked with him.
"John's broad contribution to the team, his investment insights and strong relationships with clients make him a natural successor to Jeff, and I look forward to working with him in the leadership role in the future."
Taylor has led Invesco's European equities team for almost 20 years, having been with the company for 23 years.
Taylor said: "I am fortunate to work with very talented and experienced investors who are all focused and committed to delivering the best outcomes for our clients. In planning for a successor, it was crucial to ensure consistency in our investment philosophy and process.
"John shares my vision for the portfolio and team and has a deep understanding of our clients' ambitions, as well as strong leadership qualities. I look forward to working with John and the rest of the team for the remainder of the year."
Surplice has been with Invesco for 24 years, working within the European equities team with Taylor for the majority of that time.
Surplice also co-manages the Invesco Pan European Equity fund alongside head of UK equities Martin Walker.