GERMANY - Patrick Rivière, Invesco’s head of European institutional business, has taken on the additional role of head of institutional business for Germany, according to Invesco’s German arm.

It said Paris-based Rivière had temporarily filled a vacancy left by Rainer Schröder, adding that it did not know when a permanent replacement would be found.

Schröder joined Threadneedle Investments on July 1 as its new head of German distribution, taking responsibility for the asset manager’s entire retail and institutional business in the country.

At Invesco Schröder ran a business which has taken in €4.3bn in assets.

Invesco’s German arm was also one of the first asset managers to specialise in “overtime accounts” – a retirement savings product that is growing increasingly popular with large and small corporate clients.

The German arm has, for example, set up an overtime account for employees at aircraft maker Airbus Deutschland. It says that the product has so far generated €28.5m in assets for it to manage.