Global investment manager Amvecap Plc announced Thursday that its board of directors has named Martin Flanagan president and CEO, effective August 1.

Flanagan, 45, will succeed current Executive Chairman Charles Brady. Brady will continue as chairman of the board of directors of Amvescap.

Most recently Flanagan was president and co-CEO of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton Investments, since January 2004.

He began his investment management career at Templeton in 1983.

“With his deep industry knowledge, global experience and demonstrated leadership skills, Marty Flanagan is the ideal CEO to lead AMVESCAP,” said Brady, in a release.

“As the newest addition to AMVESCAP‚s dynamic team, I am extremely excited about what we can accomplish together for our clients and shareholders,” said Flanagan.

Amvescap’s businesses operateunder the AIM, AIM Trimark, INVESCO, INVESCO PERPETUAL and Atlantic Trust brands.

In overseas trading , shares in fund-manager operator Amvescap traded off 0.6% Friday, after declining nearly 4%, after the announcement of Flanagan’s appointment.

Amvescap shares have risen 37% over the last 60 days on speculation that Amvescap will be bought by CI Financial.