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No. 10: William J. Stromberg

CHAIRMAN AND CEO, T. ROWE PRICE

stromberg-williamWilliam J. Stromberg remains committed to Baltimore. The CEO of the T. Rowe Price Group Inc. announced late last year that the money management giant would be moving in 2024.

But the city was relieved that Stromberg was only moving his 1,700 employees a mile east from the firm’s longtime headquarters at 100 E. Pratt to a two-building, state-of-the-art campus at Harbor Point. Baltimore’s central business district has been home to T. Rowe Price since the company was founded in 1937.

“In Harbor Point, we will have a vibrant campus-like atmosphere, with top-notch amenities and modern spaces designed to support the collaborative way we work with each other and with our clients,” he said.

When it comes to Baltimore, Stromberg is not all business. A lifelong resident, he has donated to help the Archdiocese of Baltimore build a new school in West Baltimore. He has also donated to his high school, Loyola Blakefield, Johns Hopkins University and Catholic Charities.

“There are many, many children in Baltimore that don’t or won’t have the opportunity for a really good education unless someone helps,” he said. “I think the best way to help people rise up and make the best of their lives is to help pay for their education.”

Stromberg is also concerned about the impact of the pandemic on children. “I hope Baltimore and the state make the hard choices to accelerate investment in our schools. … We need to strengthen our schools and gain momentum to help our school-age children meet the challenges of a modern, high-technology world.”

Stromberg has been with T. Rowe Price since 1987, beginning in the U.S. Equity Division. He steadily moved his way up within the company’s leadership ranks, including serving as head of the company’s Equity team from 2009 to 2015.

He has been an aggressive advocate for strengthening the company’s culture of collaboration and diversity. Earlier this month, he continued a T. Rowe tradition by promoting two in-house executives to top leadership positions.

This profile is part of The Daily Record's Power 100 list for 2021. Information used in this profile was sourced from the honoree. See the full list at thedailyrecord.com or in our digital edition.