INVESCO ENTERS CANADA AND MAY NEED AN AGENCY
By Adnews Staff
Global investment management group Invesco has established a foothold in Canada by acquiring Canadian mutual fund company ADMAX International Management. The $8 million deal was completed on Dec. 31. The new firm, which will be known as INVESCO Funds Group (Canada) Inc., is looking at its long-term advertising strategy and is considering hiring a public relations agency. ADMAX had advertised in Investment Executive, a Canadian trade publication focusing on the investment industry. The ads were produced both in-house and with the help of M.A.D. of Toronto. INVESCO, which will be based in Toronto, will retain the services of M.A.D., said David Whyte, INVESCO Canada's senior vice-president of sales and marketing. But he added that the new company's advertising plans haven't been firmed up yet. INVESCO has talked to several agencies which Whyte declined to name. INVESCO has offices around the world and offers a broad range of investment products and global management capabilities.