Bank of NY’s Centrone Joins Invesco PowerShares

By Heather Bell

Invesco PowerShares Capital Management (IVZ) has added a new leadership position to help in its push into international markets. The company recently named Thomas Centrone as senior vice president and international product development manager.

Centrone joins Invesco PowerShares from The Bank of New York (BK), where he was vice president of new product development and ETF product manager since 1997. During his 35-year career in financial services, Centrone also worked at United States Trust Company, The Bradford Trust Company and Chase Manhattan Bank.

In his new position, he will be responsible for the coordination and implementation of PowerShares' ETFs outside the U.S., according to a statement released by Invesco PowerShares.

"This new position will serve a vital role in educating our new international clients and potential shareholders to the benefits of the ETF structure and the intelligently designed portfolios we intend to bring to market," said Ben Fulton, PowerShares' executive vice president of global product development.

With well over 100 funds trading in the United States, Invesco PowerShares has begun to expand internationally. At the end of the first quarter, the firm had roughly 15 funds listed on various European exchanges.