T. ROWE PRICE ANNOUNCES CREATION OF GLOBAL STRATEGY FUNCTION

T. Rowe Price (NASDAQ: TROW) announced the creation of a Global Strategy function to centralize corporate strategy, corporate development, M&A, and product development.

Rhea-AI Summary

T. Rowe Price (NASDAQ: TROW) announced the creation of a Global Strategy function to centralize corporate strategy, corporate development, M&A, and product development.

Andrew Reich will join as head of Global Strategy on January 5, 2026, report to Rob Sharps, and join the firm's Management Committee. Reich previously led McKinsey's Asset Management Practice for North America.

The firm reports it manages $1.79 trillion in client assets as of October 31, 2025, roughly two-thirds retirement-related.

Positive

• New Global Strategy function to centralize strategy and M&A
• Andrew Reich joining as Head of Global Strategy on Jan 5, 2026
• Reich adds McKinsey Asset Management practice leadership experience
• $1.79 trillion in client assets as of Oct 31, 2025

Negative

• None.

Argus Nov 13 session

-1.00% close to close Open Argus

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News Market Reaction – TROW

On Nov 13, the day this news came out, TROW closed 1.00% below the previous close.

Data tracked by StockTitan Argus for the Nov 13 session.

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BALTIMORE, Nov. 13, 2025 /PRNewswire/ -- T. Rowe Price announced today the creation of a Global Strategy function to drive its strategic vision and elevate long-term planning. Andrew Reich will join the firm as head of Global Strategy on January 5, 2026. In this role, Reich will oversee the firm's corporate strategy, corporate development, mergers and acquisitions, and product development.

Reich brings deep industry expertise, having most recently served as a partner and head of the Asset Management Practice for North America at McKinsey & Company. During his tenure, he helped asset managers, wealth managers, and insurers navigate rapidly evolving industry dynamics and drive sustainable growth strategies. Reich will join the firm's Management Committee and report to Rob Sharps, chair, CEO, and president.

"By establishing a dedicated Global Strategy function, we further strengthen our position to take advantage of the opportunities ahead," said Sharps. "This will enable us to continue delivering innovative solutions for the evolving needs of our clients. We are thrilled to welcome Andrew to T. Rowe Price and look forward to his leadership as we advance our strategic priorities."

"I'm honored to join T. Rowe Price, a storied institution with a strong foundation. I look forward to working alongside the team to shape T. Rowe Price's strategic vision, guide our long-term growth agenda, and unlock new opportunities in a period of transformative change in the industry," said Reich.

ABOUT T. ROWE PRICE

T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.79 trillion in client assets as of October 31, 2025, about two-thirds of which are retirement-related. Renowned for over 85 years of investment excellence, retirement leadership, and independent proprietary research, the firm leverages its longstanding expertise to ask better questions that can drive better investment decisions. Built on a culture of integrity and prioritizing client interests, T. Rowe Price empowers millions of investors worldwide to thrive amidst evolving markets. Visit troweprice.com/newsroom for news and public policy commentary.

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SOURCE T. Rowe Price Group

FAQ

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What did T. Rowe Price (TROW) announce on November 13, 2025?

T. Rowe Price announced the creation of a Global Strategy function and the hiring of Andrew Reich as head of Global Strategy.

When will Andrew Reich start as head of Global Strategy at TROW?

Andrew Reich will join T. Rowe Price on January 5, 2026.

Who will Andrew Reich report to at T. Rowe Price (TROW)?

He will report to Rob Sharps, chair, CEO, and president, and join the Management Committee.

What responsibilities will the new Global Strategy function at TROW cover?

The function will oversee corporate strategy, corporate development, mergers and acquisitions, and product development.

How large are T. Rowe Price's assets under management (AUM) reported in the announcement?

T. Rowe Price reported $1.79 trillion in client assets as of October 31, 2025.

What is Andrew Reich's background prior to joining T. Rowe Price (TROW)?

Reich most recently served as a partner and head of the Asset Management Practice for North America at McKinsey.