Invesco Ltd. (IVZ) Q4 2022 Earnings Call Transcript

Invesco Ltd. (NYSE:IVZ) Q4 2022 Earnings Conference Call January 24, 2022 9:00 AM ET

Company Participants

Greg Ketron - Head-Investor Relations

Marty Flanagan - President and Chief Executive Officer

Allison Dukes - Chief Financial Officer

Conference Call Participants

Glenn Schorr - Evercore

Brian Bedell - Deutsche Bank

Dan Fannon - Jefferies

Brennan Hawken - UBS

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Bill Katz - Credit Suisse

Patrick Davitt - Autonomous Research

Mike Cyprys - Morgan Stanley

Mike Brown - KBW

Operator

Welcome to Invesco’s Fourth 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 would like to turn the call over to Greg Ketron, Invesco's Head of Investor Relations.

Greg Ketron

Thanks, operator, and to all of you joining us on Invesco's quarterly earnings call. In addition to today's press release, we have provided a presentation that covers the topics we plan to address today. The 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 two of the presentation regarding these statements and measures as well as the appendix for the appropriate reconciliations to GAAP. Finally, Invesco is not responsible for and does not edit nor guarantee the accuracy of our earnings teleconference transcripts provided by third parties. The only authorized webcast are located on our website.

Marty Flanagan, President and Chief Executive Officer; and Allison Dukes, Chief Financial Officer, will present our results this morning. After we complete the presentation, we will open the call up for questions.

Now I'll turn the call over to Marty.

Marty Flanagan

Thank you, Greg, and thanks everybody for joining us. And I'm going to start on slide three if you're following along, which is the fourth quarter highlights. The fourth quarter concluded a year of significant headwinds and volatility in global markets. Seemingly, no geography or asset class was immune to the S&P experienced the worst year since 2008, NASDAQ Composite declined over 30%, MSCI Merchant Markets Index nearly 20%, and bond markets, typically the safe heaven when equity suffer, declined significantly due to rise in interest rates with the global aggregate bond index declining by more than 15% for the year. This resulted in the worst markets we've seen in decades.