Baltimore-based T. Rowe Price announced Thursday morning it promoted two of its executives, naming Rob Sharps as the company’s new president and Céline Dufétel as its chief operating officer.
Sharps, who has been with the company for 23 years, will continue in his current roles as head of investments and group chief investment officer. Dufétel will remain chief financial officer and treasurer, roles she took on when she joined T. Rowe in 2017.
Both executives will continue reporting to Bill Stromberg, who will remain the company’s chief executive officer and chair of its board of directors.
“The size and complexity of the company have increased significantly, and we expect this trend to continue,” Stromberg said in a statement. “Rob and Céline have each expanded their roles and influence in recent years to help us navigate this period of change. Their appointments today reflect the growing breadth of their contributions and our intention to deepen our senior leadership in preparation for additional growth in the future.”
The former longtime portfolio manager of the US Large-Cap Growth Equity Strategy, Sharps has become increasingly immersed in all facets of investments at the firm. His influence has broadened significantly in recent years to include corporate strategy, product development and pricing, key client relationships, and other enterprise initiatives.
He is also executive sponsor of the firm’s Black Leadership Council, a director on the T. Rowe Price Funds’ Board, and a regular participant in corporate board activities. Sharps began his career in 1993 as a senior management consultant at KPMG Peat Marwick, where he focused on corporate transactions.
Dufétel joined T. Rowe in 2017 to become CFO and treasurer and has been providing global leadership for the firm’s financial activities, investor relations, risk oversight, global investment operations, and enterprise change. She also has overseen the firm’s pandemic response efforts.
Prior to joining the firm in 2017, Dufétel was managing director and global head of marketing, product management, and client service at Neuberger Berman. She previously was a partner and head of the North American Asset Management practice with McKinsey & Company, where she started her career in 2004.