T. ROWE PRICE ANNOUNCES APPOINTMENT OF BEN RILEY TO HEAD OF INSURANCE

Rhea-AI Summary

T. Rowe Price has announced the appointment of Ben Riley, CFA®, to the newly created role of Head of Insurance, effective January 1, 2025. Riley will oversee a team responsible for insurance clients in North America and coordinate T. Rowe Price's global insurance efforts. He will report to Doug Greenstein, Head of Institutional Business Development for Americas.

Riley has been with T. Rowe Price since 2001 and joined the Americas Institutional Client Service team in 2007. In 2017, he became the firm's first senior relationship manager dedicated to insurance general account mandates. Under his leadership, T. Rowe Price's insurance business has experienced strong growth across multiple asset classes.

The appointment aims to drive growth and better serve clients with enhanced focus and expertise in the insurance sector. Riley highlighted T. Rowe Price's strengths in providing customized fixed income solutions and fundamental credit research, which are critical for insurance mandates.

Positive

• Creation of a new Head of Insurance role to focus on the insurance segment
• Strong growth in T. Rowe Price's insurance business across multiple asset classes
• Appointment of an experienced internal candidate with 24 years at the company

Negative

• None.

Newly created role to further the firm's focus on the Insurance segment

BALTIMORE, Oct. 16, 2024 /PRNewswire/ -- T. Rowe Price, a global investment management firm, announced the elevation of Ben Riley, CFA^®, to the newly created role of Head of Insurance, effective January 1, 2025. Riley will oversee a team responsible for insurance clients in North America, while also coordinating T. Rowe Price's global insurance efforts. He will maintain coverage responsibilities for current clients and prospects. Riley will continue to report to Doug Greenstein, Head of Institutional Business Development for Americas, the organization responsible for the firm's institutional business in North America.

"Ben is perfectly suited to take on this important new role," said Greenstein. "His extensive experience and dedication have been instrumental in establishing T. Rowe Price within the Insurance sector. Ben is a strong leader, and his appointment will enable us to drive growth and better serve our clients with enhanced focus and expertise."

Riley has been with T. Rowe Price since 2001 and joined the Americas Institutional Client Service team in 2007. In 2017, he moved into his current role as the firm's first senior relationship manager dedicated to the sales and service of insurance general account mandates. Since that time, T. Rowe Price's insurance business has experienced strong growth across multiple asset classes. He has also served as relationship manager for Retirement Plan Services and has worked in the firm's Fixed Income and Multi-Asset divisions. A team of relationship managers will report to Riley.

"Many of our insurance clients are looking for a partner with scale who has the ability to provide customized fixed income solutions," said Riley. "We've been doing this successfully for several years. T. Rowe Price's focus on fundamental, proprietary credit research, coupled with our extensive equity research platform, provides a holistic view of the credits in which we invest. This is critically important for insurance mandates, which tend to be lower in turnover and sensitive to impairments. When you combine the resources of T. Rowe Price with our service-oriented culture, and the quality of our credit research platform, it makes us an ideal partner for insurance clients."

ABOUT T. ROWE PRICE
Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities.

T. Rowe Price serves millions of clients globally and manages U.S. $1.63 trillion in assets under management as of September 30, 2024. About two-thirds of the assets under management are retirement-related. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

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SOURCE T. Rowe Price Group

FAQ

When will Ben Riley start as Head of Insurance at T. Rowe Price (TROW)?

Ben Riley will start as Head of Insurance at T. Rowe Price on January 1, 2025.

What will be Ben Riley's responsibilities as Head of Insurance at T. Rowe Price (TROW)?

Ben Riley will oversee a team responsible for insurance clients in North America and coordinate T. Rowe Price's global insurance efforts. He will also maintain coverage responsibilities for current clients and prospects.

How long has Ben Riley been with T. Rowe Price (TROW)?

Ben Riley has been with T. Rowe Price since 2001, joining the company 23 years ago.

What has been the performance of T. Rowe Price's (TROW) insurance business under Ben Riley's leadership?

Since Ben Riley became the firm's first senior relationship manager dedicated to insurance general account mandates in 2017, T. Rowe Price's insurance business has experienced strong growth across multiple asset classes.