Thomas and Propper tapped to replace Markwalter as the firm's top managers. Atlantic Trust, the wealth-management arm of Atlanta-based Invesco, has a new CEO in Jeffrey Thomas, a 20-year veteran of the firm and a senior executive since 1993. At the same time Atlantic Trust has made Eric Propper its COO and president. They replace Jack Markwalter Jr., president and CEO since 2004, who remains on as chairman and as U.S. sales, client service and consulting for Invesco's institutional business.

"Jeff and Eric will build on the strong foundation of success Jack has established over the past five years to take our Atlantic Trust business forward," says Invesco's president and CEO Martin Flanagan. "Jack will ensure leadership continuity at Atlantic Trust, while leading our U.S. sales, client service and consulting teams to further enhance Invesco Institutional's position in the marketplace."

Results

Thomas joined Atlantic Trust in 1986 from Scudder, Stevens & Clark (now part of Deutsche Bank), and started his career at Northern Trust.

"Jeff has extensive wealth management experience and understands all facets of the business," says Markwalter. "[He] has proven to be a trusted advisor to many of our firm's most important clients and has provided strong leadership of our investment team."

Propper, who joined Atlantic Trust in 1998 from J. Bush & Co. (now part of Waterbury, Conn.-based Webster Bank), leads the firm's New York office, oversees other regional offices and serves as senior relationship manager for a number of the firm's most substantial clients.

"Eric has worked on some of our most important initiatives, demonstrating excellent business judgment and the ability to get things done," says Markwalter.

Markwalter joined Atlantic Trust from Morgan Stanley as head of business development in 2002. In his new role with the Atlantic Trust's parent company, he helms Invesco Institutional's development and implementation of investment strategies.

"Jack achieves results by motivating sales and client service teams that successfully execute against clearly defined goals," says Invesco Institutional head Mark Armour. "He brings tremendous management experience to his role, and is instrumental as we strengthen our U.S. institutional business."

New York-based Atlantic Trust has 12 offices in U.S. It had 13.4 billion in assets under management at the end of 2008. -FWR

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