Invesco aims to sell $18bn arm

City A.M. Reporter
INVESCO is trying to sell its $18bn (£11.2bn) wealth management business, according to five sources.

The Atlanta-based asset management company wants to sell Atlantic Trust Private Wealth Management, which has $18bn in assets under management, because it is not core to its business, three of the sources said.

An Invesco spokesman declined to comment.

Atlantic Trust has 11 offices across the US and serves clients with at least $5m in assets.