CEO & President
T. Rowe Price
When T. Rowe Price CEO and President James Kennedy joined the firm in 1978, the U.S. economy was in the third year of recovery following the historic economic downturn of the mid-1970s. Financial topics of the day included oil prices, unemployment, taxes and interest rates.
Today’s economic and investment markets bear scant resemblance to their counterparts some 37 years ago. A transformed global economy has grown the world beyond anyone’s imagination, while at the same time, technology has somehow made it all the more accessible.
T. Rowe Price had $5.5 billion in assets under management in 1978, versus nearly $750 billion today.
What has remained constant, says Kennedy, are the qualities that company founder Thomas Rowe Price, Jr. believed are key to success: a commitment to fairness in every interaction and aligning the firm’s interests with its clients’.
Kennedy has served as CEO and president of T. Rowe Price Group Inc. since January 2007 and is a member of its board of directors.
“The success we enjoy today at T. Rowe Price is still a direct result of the success we create for our clients,” he said. “That relatively simple tenet has served our people, our clients and our shareholders extremely well for more than seven decades. It also informs the way we operate, the way we make decisions and the way we attract, develop and retain our people.”
Kennedy’s tenure at the Baltimore-based global asset management firm began after earning his MBA from the Stanford Graduate School of Business. Prior to that he worked at General Electric as part of its financial management program and earned his undergraduate degree from Princeton University.
A stalwart advocate for the Downtown Partnership and its multi-year efforts to revitalize downtown Baltimore, Kennedy is vocal about his firm’s commitment to its hometown and state.
“I strongly believe in the responsibility and possibilities of private and public partnership,” he says. “Our offices on East Pratt Street tangibly demonstrate our commitment to urban employment, and are the work home to more than 1,300 of our associates. Including our Owings Mill campus, nearly 75 percent of our associates worldwide work in Maryland and contribute significantly to economic growth, neighborhood vitality, diversity, philanthropy and education.”
Kennedy also serves on the board of the Downtown Partnership of Baltimore and is a member of its executive committee.