Invesco's Neil Woodford exiting company

Star fund manager Neil Woodford is leaving Invesco (IVZ -4.4%), effective April 29, with the intention of starting his own fund management business. He will remain responsible for his Invesco funds until he departs, at which point Mark Barnett will succeed him.

Invesco: "We have planned for succession for many years and have built a world-class investment culture that develops and supports gifted and experienced managers."

Woodford: "I leave the company on good terms and remain fully committed to my fund management responsibilities at Invesco Perpetual until my departure."

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