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Tag Archives: T. Rowe Price

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. (access required)

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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Kennedy, T. Rowe’s CEO, to step down at year’s end (access required)

James A.C. Kennedy, CEO and president and chair of the management committee at T. Rowe Price, has decided to step down from those roles effective Dec. 31, 2015, the company announced Wednesday. He will retire from the Baltimore-based asset manager at the company’s Annual Meeting on April 27, 2016, after 38 years with the firm, the last nine as CEO and president. William J. Stromberg, a 28-year veteran of the company who is currently head of Global Equity and Global Equity Research and a member of the firm’s management committee, will succeed Kennedy. Stromber will become president and CEO and chair of the Management Committee, effective Jan. 1, 2016. He will also join the Board of Directors.

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T. Rowe Price to trade Japanese stocks from Sydney

Baltimore-based T. Rowe Price Group Inc. will start trading Japanese stocks from Sydney next week as the U.S. money manager seeks to meet demand for Tokyo equities and free up staff in Hong Kong to cover other markets.

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State’s college savings plan is golden

Morningstar Inc. has rated the Maryland College Investment Plan, managed and distributed by T. Rowe Price, as a “Gold” 529 college savings plan for the fifth straight year, the College Savings Plans of Maryland announced. The Maryland College Investment Plan ...

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