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Rob Hain, CEO of AIM Canada, will become the new leader of INVESCO UK. Both companies are subsidiaries of AMVESCAP.

Hain replaces Hugh Ward, who is stepping down from the position for "personal reasons," according to AMVESCAP. "Hugh approached me some time ago to tell me about his wish to step down ... once a successor had been identified," said Michael Benson, CEO of INVESCO Global and vice chairman of AMVESCAP.

Hain joined AIM Funds Management as CEO of its Canada division in 1998. In February 2001, he was made a member of AMVESCAP's executive board.

Phil Taylor, who joined AIM Canada in 1999 as COO, will replace Hain. Before going to AIM, Taylor was president of Investors Group Securities, a financial services firm in Winnipeg, Canada. Prior to that, he served as a managing partner at Meridian Securities, a brokerage service for financial advisor firms.