Invesco Ltd. (IVZ) Q1 2023 Earnings Call Transcript

Invesco Ltd. (NYSE:IVZ) Q1 2023 Earnings Conference Call April 25, 2023 9:00 AM ET

Company Participants

Greg Ketron - Head of IR

Marty Flanagan - CEO

Andrew Schlossberg - Senior MD and Head of Americas Region

Allison Dukes - CFO

Conference Call Participants

Craig Siegenthaler - Bank of America

Daniel Fannon - Jefferies

Adam Beatty - UBS

Bill Katz - Credit Suisse

Ken Worthington - JPMorgan

Michael Cyprys - Morgan Stanley

Patrick Davitt - Autonomous Research

Operator

Welcome to Invesco's First Quarter Earnings Conference Call. All participants will be in a listen-only mode until the question-and-answer session. [Operator Instructions] As a reminder, today's call is being recorded.

Now I'd like to turn the call over to Greg Ketron, Invesco's Head of Investor Relations. Thank you, sir. You may begin.

Greg Ketron

Thanks, operator, and all of you joining us on the call today. In addition to the press release, we've provided a presentation that covers the topics we plan to address today. Press release and presentation are available on our website, invesco.com. This information can be found by going to the Investor Relations section of the website.

Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please review the disclosures on Slide 2 of the presentation regarding these statements and measures as well as the appendix of the appropriate reconciliations to GAAP. Finally, Invesco's net response before and does not edit or guarantee the accuracy of our earnings call transcripts provided by third parties. The only authorized webcast are located on our website.

Marty Flanagan, President and CEO; Andrew Schlossberg, Invesco's Head of Americas and who will become President and CEO upon Martin's retirement on June 30 of this year; and Allison Dukes, Chief Financial Officer will present our results this morning. After we complete the presentation, we will open up the call for questions.

Now I'll turn the call over to Martin.

Marty Flanagan

Thank you, Greg. And I'm going to start on Page 3, which is the highlights for the first quarter, if you want to follow along. The early part of 2023, provided investors and money managers reason for modest optimism as most major financial markets gain ground in that period partially offsetting the significant declines we saw last year.

Inflationary pressures showed some sign of easing and the COVID-19 pandemic are all now [ph] behind us. That said, heightened level of volatility persists in the financial markets reacted with cash in March as we experienced several bank failures during that period. Investors once again, safety and risk-off assets and net flows across the industry were pressured again.