Amvescap, the US investment manager, has brought together the various parts of its business to form two operational divisions branded AIM and Invesco, which will be led by Mark Williamson and John Rogers, respectively.

The restructuring is likely to produce further job cuts, on top of the 500 recently announced. It has put Williamson and Rogers in clear contention to take over from Amvescap founding father Charles Brady at some point.