Andrew Schlossberg

Invesco's most valuable franchise is its ETF business, anchored by the Invesco QQQ Trust — the world's second-largest ETF by trading volume and one of the most recognized investment products globally, tracking the Nasdaq-100 Index. QQQ alone manages hundreds of billions of dollars and generates substantial fee revenue. Schlossberg inherited a company navigating the structural challenge facing all active asset managers: the relentless shift from active to passive strategies that compresses fees and creates persistent outflow pressure on higher-fee products. His strategy focuses on areas where Invesco has competitive advantages — the QQQ ETF franchise, alternative investments (real estate, private credit, direct lending), and international distribution, particularly in Asia-Pacific where Invesco has a strong brand through its Greater China joint venture. His execution on net flow improvement, fee rate stabilization, cost management, and growth in alternatives and ETFs are the critical drivers of Invesco's stock price. The company's valuation reflects the market's uncertainty about whether traditional asset managers can adapt to the passive revolution while maintaining profitability.