T Rowe Price Grp Stock Price, News & Analysis

T. Rowe Price has appointed Chrystal Williams as the head of its new Global Distribution Digital Solutions group, aiming to enhance the firm's digital capabilities. This initiative integrates various digital functions to improve client experiences.

Williams, boasting over 30 years in financial services, previously founded Arbi Solutions and led digital operations at Invesco. T. Rowe Price manages $1.63 trillion in assets as of November 30, 2021, focusing on investment excellence and client satisfaction.

T. Rowe Price has been selected to manage investments for MarylandSaves, a new state-run retirement program launching in summer 2022. This initiative aims to facilitate employee savings through a voluntary, automatic retirement plan that prioritizes building emergency savings first. Participants can select the T. Rowe Price Global Growth Stock Fund among four investment options. Key features include lower fees, portability, and no employer costs, potentially benefiting over 1 million residents in Maryland. The program seeks to enhance retirement savings accessibility.

T. Rowe Price announced the election of Kellye Walker as an independent director to the Boards of its mutual funds on December 15, 2021. Walker brings over 25 years of experience in corporate governance and compliance, currently serving as executive vice president and chief legal officer at Eastman Chemical Company. Her previous roles include chief legal officer positions at Huntington Ingalls Industries and American Water Works. Walker has received notable recognition, including being named to the Financial Times' 2019 "Global GC 20" list.

T. Rowe Price Group reported preliminary assets under management totaling $1.63 trillion as of November 30, 2021. In November, client transfers from mutual funds to other portfolios reached $1.1 billion, with $4.2 billion for the quarter-to-date. Year-to-date transfers stand at $22.6 billion, including significant amounts into target-date retirement trusts. The firm's total client assets are diversified across mutual funds, fixed income, and multi-asset portfolios, demonstrating a focus on strategic investment management.

T. Rowe Price Group has announced the appointment of Rob Sharps as the new CEO and Chair of the Management Committee, effective January 1, 2022, succeeding Bill Stromberg, who is retiring. Sharps will also retain his role as president and will join the Board of Directors. In line with the upcoming acquisition of Oak Hill Advisors (OHA), Glenn August, CEO of OHA, has been elected to the Board and appointed to the Management Committee. These changes increase the Board's size from 12 to 14 members.

T. Rowe Price has released expert tips for year-end financial planning aimed at retirement savers. Crucial considerations include the need for mutual funds to distribute dividends and capital gains, the benefits of tax-loss harvesting strategies, and the importance of reviewing asset allocation. Additionally, the firm emphasizes catch-up contributions for investors aged 50 and over to enhance their retirement savings. Senior insight managers suggest that while tax implications are important, long-term investment strategies should remain at the forefront of decision-making.

T. Rowe Price hosted its inaugural U.S. Retirement Market Outlook press briefing on Nov. 17, 2021, discussing critical trends impacting retirement in 2022. Experts highlighted a $4 trillion retirement savings gap, the importance of financial wellness programs, and strategies for navigating an investment landscape of lower expected returns. With over two-thirds of managed assets in retirement, T. Rowe Price aims to help investors connect current actions to future retirement outcomes. The firm manages $1.67 trillion in assets as of Oct. 31, 2021.

T. Rowe Price Group reported preliminary month-end assets under management of $1.67 trillion as of October 31, 2021. The firm experienced client transfers totaling $3.1 billion in October and $21.5 billion year-to-date due to shifts from mutual funds to separate accounts, prominently the target-date retirement trusts, which accounted for $2.2 billion in October. The decline in fixed income assets was attributed to a redemption by a single institutional client.

T. Rowe Price Group (NASDAQ: TROW) announced the election of Eileen Rominger as an independent director on November 3, 2021. Rominger's extensive background includes roles as a senior advisor at CamberView Partners and director at the SEC's Division of Investment Management. She has held significant positions at Goldman Sachs Asset Management and Oppenheimer Capital. CEO Bill Stromberg emphasized that her public policy, regulatory, and investment management expertise will benefit the company and its shareholders. As of September 30, 2021, T. Rowe Price manages $1.61 trillion in assets.