It has been a trying year for asset manager Invesco UK after its US parent company Amvescap was fined $450m (£235.5m) in August 2004 for improper trading in mutual funds.
As a result of the mammoth fine, Amvescap sought to overhaul its global legal, compliance and risk management functions. But while other areas of the business were found lacking, Invesco UK’s legal team passed with flying colours.
This was due largely to Michelle Moran’s strategy since she joined the company two years ago: to increase the business’s reliance and trust in its in-house legal team for providing comprehensive and commercial advice.
As a result, Invesco UK’s legal team is now seen as a crucial part of the business, while Moran has been rewarded for her success with a promotion to head of legal for the UK and Ireland and with the ability to significantly bolster her team.
She is now seeking to double the size of the UK legal team, while also assisting with the appointment of both a new head of legal and compliance for Continental Europe and a new head of product development and legal within Ireland.