T. Rowe Price Group announced this morning that Chief Financial Officer Kenneth V. Moreland will retire in 2017 after 13 years at the firm. The company said it will begin a search for a new CFO immediately.
Moreland oversees the firm’s financial operations and reporting in addition to managing T. Rowe’s finance, facilities, investor relations, and risk management efforts.
An immediate retirement date has not been determined, Baltimore-based T. Rowe said.
“Ken is widely appreciated for his intellect, judgment, and thoughtful leadership style,” T. Rowe Price President and CEO William J. Stromberg said. “He has been a valued partner to me and to Jim Kennedy and George Roche before me. He has been a trusted steward of our financial operations and reporting, and he deftly handled an ever broadening set of responsibilities over the years, including facilities, investor relations, and risk management.
Prior to joining T. Rowe Price in March, 2004, Moreland was a senior vice president, chief financial officer and director with RTKL Associates, Inc., a Baltimore-based international architectural firm. Prior to that, he was a client service partner for Coopers & Lybrand.
“It has been an honor to work for such a premiere investment management firm – one known for its high standards in client service and caliber of people across all aspects of the firm,” Moreland said in a statement. “As the company continues to evolve, I am extremely confident that it will move forward from a position of financial and talent strength.”