Adrien Deberghes
About Adrien Deberghes
Adrien Deberghes (born 1967) serves as Vice President of the Invesco QQQ Trust, Series 1, disclosed as an executive officer in the Trust’s registration materials; he has held Vice President roles across the Invesco ETF Trust complexes since 2020 and additionally serves as Head of the Fund Office of the CFO and Fund Administration at Invesco Advisers, Inc., and Principal Financial Officer, Treasurer, and Senior Vice President for The Invesco Funds . He is also disclosed as a Director of Invesco Trust Company (2023–present) and has prior experience as Senior Vice President and Treasurer at Fidelity Investments (2008–2020) . In the QQQ Trust materials, Deberghes’ current officer role appears with an address at Invesco Capital Management LLC, 11 Greenway Plaza, Houston, TX 77046; his role is listed as “Vice President” for the Trust since 2025 following QQQ’s conversion to an open-end fund framework, while his ETF Trust Vice President roles date to 2020 . Performance metrics such as TSR, revenue growth, or EBITDA growth are not disclosed for Deberghes (as the Trust’s filings present fund-level governance and adviser fee terms rather than individual officer performance metrics) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Fidelity Investments | Senior Vice President and Treasurer | 2008–2020 | Treasury leadership; senior finance capacity (title-based) |
| The Invesco Funds | Vice President | 2020–2023 | Finance and fund administration leadership (progressed to PFO/Treasurer/SVP) |
| The Invesco Funds | Principal Financial Officer, Treasurer, Senior Vice President | 2023–present | Principal financial oversight and treasury for Invesco fund complex |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Invesco Trust Company | Director | 2023–present | Governance oversight within the Invesco trust entity |
Fixed Compensation
- The Trust’s proxy and registration documents disclose compensation frameworks for trustees and adviser-paid functions but do not disclose base salary, target bonuses, or actual bonuses for executive officers such as the Vice President; trustee compensation is paid complex-wide and, post-conversion, would be borne under the unitary advisory fee, while officers may serve without compensation as trustees if elected .
- A description of the adviser’s compensation structure for portfolio managers indicates fixed salary plus eligibility for a discretionary year-end bonus reviewed by the adviser’s Compensation Committee; no explicit policy or agreement governs bonuses for PMs, and no officer-specific metrics or amounts are disclosed—this section applies to PMs, not specifically to Deberghes’ VP role .
Performance Compensation
- No performance metric-linked compensation (e.g., revenue growth, EBITDA, TSR or ESG goals), vesting schedules, RSU/PSU awards, or option awards are disclosed for executive officers of the Trust, including Deberghes, in the cited QQQ proxy or registration materials .
- Trustee compensation tables are disclosed (independent trustees across ETF trusts) but are not applicable to Deberghes’ officer role .
Equity Ownership & Alignment
- The Trust’s materials indicate “Management ownership” and principal holders sections, but QQQ’s 485APOS shows placeholder text and does not provide specific executive officer beneficial ownership, vested/unvested breakdowns, option status, or pledging disclosures for Deberghes .
- No Form 4 or Section 16 insider transaction disclosures were identified for Deberghes in the QQQ document set; officer listings are provided without ownership or trading information .
Employment Terms
- Appointment timing: Vice President of the QQQ Trust since 2025 (following reclassification to an open-end management investment company), and Vice President roles across Invesco ETF Trusts since 2020; no term expiration, auto-renewal, non-compete, non-solicit, severance, change-of-control, clawback, or tax gross-up provisions are disclosed for Deberghes in the QQQ filings .
- Adviser agreement economics: The Trust’s advisory fee schedule shows a unitary fee of 0.18% of average daily net assets payable to Invesco Capital Management LLC; officer compensation for the Trust is not broken out and is distinct from trustee compensation mechanics .
Investment Implications
- Compensation alignment and insider pressure: With no disclosed officer cash/equity compensation, equity grants, vesting schedules, or Form 4 transactions for Deberghes in QQQ’s materials, there is limited visibility into direct pay-for-performance alignment or potential insider selling pressure; the Trust structure emphasizes adviser-paid functions and board trustee compensation frameworks rather than officer incentives .
- Retention risk and governance: Deberghes’ long-standing finance and fund administration credentials at Invesco and prior senior treasury role at Fidelity suggest deep back-office expertise; however, absence of disclosed employment contract terms (severance/CIC) or ownership requirements precludes a detailed retention risk assessment from QQQ filings alone .
- Monitoring priorities: Track future QQQ proxies and any 8‑K Item 5.02 filings for appointment/compensation updates, and adviser-level disclosures for compensation policies that could apply to executive officers; fund-level advisory fee disclosures (0.18% unitary fee) are clear, but individual officer incentive alignment remains undisclosed in QQQ’s current materials .