Great-West Life buys into Irish company Invesco

Great-West Lifecohas signed a deal to acquire a strategic investment in Invesco(Ireland), an employee benefit consulting and private wealth management firm.

Financial terms of the deal done by Great-West's subsidiary Irish Life Group were not immediately available.

Invesco is expected to continue to operate independently under its existing brand and with the same senior leadership team.

Established in 1991, Invesco has more than 125 employees and manages the corporate pension plans of over 275 large corporations in Ireland, along with more than 500 small and medium companies.

The acquisition is subject to regulatory approval and customary closing conditions. It's expected to close in the third quarter of this year.