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Tag Archives: T. Rowe Price

T. Rowe Price shows dip in 3rdQ profits

T. Rowe Price Group Thursday unveiled third-quarter results that showed a dip in profits from the third quarter of last year despite revenue growth. The Baltimore-based money manager reported net income of $277.1 million for the quarter, down from 303.6 ...

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T. Rowe: Millennials better at saving than baby boomers

T. Rowe Price

In another potential blow to society’s preconceived notions about millennials, T. Rowe Price now says their financial habits are better than those of their baby-boomer elders. The Baltimore-based asset manager Monday released a study  of 1,505 millennials and 514 baby ...

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Incoming T. Rowe CEO: We have to grow outside U.S.

William J. Stromberg says he wants T. Rowe Price Group to continue "doing the basics" well while increasing the asset manager's emphasis on growing business outside of the United States. Stromberg, who has worked at the firm for 28 years, will succeed James A.C. Kennedy as president and CEO starting Jan. 1, 2016, T. Rowe announced Wednesday. In an interview Wednesday, Stromberg said T. Rowe will work to maintain its "continued outstanding investment results" as well as expand its efforts in three areas. First, the firm will put an increasing focus on growing business outside of the U.S., both by continuing to invest in international funds and by raising money from more clients outside of the country, Stromberg said. Next, he said he wants to continue efforts begun by Kennedy to make T. Rowe a more diverse and inclusive workplace. Finally, T. Rowe will work to preserve what Stromberg called the "culture of collaboration and teamwork that pervades the entire organization" and which makes it unique in the business. Part of this is embodied by the firm's management committee, Stromberg said.

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