T. Rowe Price (NASDAQ: TROW) revamps investment leadership and names new president
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
T. Rowe Price Group, Inc. has expanded its senior leadership team, elevating Eric Veiel to president, co-head of Global Investments, and chief investment officer. Rob Sharps remains chair and chief executive officer, continuing to set the firm’s overall vision and strategy.
Effective June 1, Sébastien Page becomes co-head of Global Investments and chief investment officer, working alongside Veiel, and will remain acting head of Global Multi-Asset through September 30. Wyatt Lee will assume the role of head of Global Multi-Asset on October 1 while continuing to lead Target Date Strategies and co-manage the firm’s target date portfolios.
The firm notes that Veiel and Page will report to Sharps and remain on the Management Committee, with Lee joining the committee on January 1, 2027. T. Rowe Price reports it manages $1.83 trillion in client assets as of April 30, 2026, about two-thirds of which are retirement related.
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Insights
T. Rowe Price reshapes its investment leadership while keeping CEO continuity.
T. Rowe Price is concentrating leadership in its investments group by naming Eric Veiel president, co-head of Global Investments, and chief investment officer, while Rob Sharps stays as chair and CEO. This keeps strategic control with the existing chief executive.
The firm also pairs Veiel with Sébastien Page as co-heads of Global Investments and appoints Wyatt Lee to lead Global Multi-Asset, preserving continuity in key product areas like target date strategies. These roles remain closely tied to the Management Committee, anchoring decisions at the enterprise level.
With $1.83 trillion in client assets as of April 30, 2026, roughly two-thirds retirement related, stability in investment leadership is important. Future company filings may clarify how this structure influences product development, technology adoption, and performance across multi-asset and retirement-focused strategies.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Assets under management: $1.83 trillion
Retirement-related assets share: about two-thirds
Firm history: over 85 years
+5 more
8 metrics
Assets under management
$1.83 trillion
Client assets as of April 30, 2026
Retirement-related assets share
about two-thirds
Portion of $1.83 trillion AUM tied to retirement
Firm history
over 85 years
Years of investment excellence cited by the company
Eric Veiel tenure
more than 20 years
Time with T. Rowe Price
Sébastien Page experience
25 years
Experience across multi-asset investing and solutions
Wyatt Lee experience
over 30 years
Total investment experience cited
Effective date Veiel & Page roles
June 1, 2026
Start of new president and co-head of Global Investments roles
Lee to Management Committee
January 1, 2027
Effective date for Management Committee appointment
Key Terms
Global Investments, Global Multi-Asset, Target Date Strategies, chief investment officer, +2 more
6 terms
Global Investments financial
"Eric Veiel, currently head of Global Investments, has been named president"
Global Multi-Asset financial
"head of Global Multi-Asset and chief investment officer, will become co-head"
Target Date Strategies financial
"currently head of Target Date Strategies and co-portfolio manager of the firm's target date portfolios"
Target date strategies are investment plans that automatically change the mix of stocks, bonds and other assets over time to become more conservative as a chosen future year (the “target date”) approaches, like a financial autopilot steering from growth toward safety. They matter to investors because they simplify long-term planning, reduce the need for frequent adjustments, and aim to balance risk and return based on a likely time horizon, though fees and the specific pace of change still affect outcomes.
chief investment officer financial
"Co-Head of Global Investments and Chief Investment Officer of the Company"
A chief investment officer (CIO) is the person responsible for managing a company or organization’s investments and financial strategies. They make key decisions about where to put money to help grow wealth or achieve financial goals, much like a coach plans a team’s game strategy. Their work matters to investors because it influences how effectively an organization’s assets are used to generate returns.
Management Committee financial
"Veiel and Page will report to Sharps and remain members of the firm's Management Committee"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 15, 2026
T. Rowe Price Group, Inc.
(Exact name of registrant as specified in its charter)
| (State of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of principal executive offices) | (Zip Code) | ||||
Registrant's telephone number, including area code: (410 ) 345-2000
____________________________________
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
The (Nasdaq Global Select Market) | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 5 – Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 15, 2026, the Board of Directors (the “Board”) of T. Rowe Price Group, Inc. (the “Company”) approved the appointment of Eric L. Veiel to become the President, Co-Head of Global Investments and Chief Investment Officer of the Company, effective immediately. Mr. Sharps will remain Chief Executive Officer of the Company.
A copy of the press release issued on May 18, 2026, announcing Mr. Veiel’s appointment, is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Section 9 - Financial Statements and Exhibits.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press Release Dated May 18, 2026
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
T. Rowe Price Group, Inc.
By: /s/ David Oestreicher
Vice President, General Counsel and Secretary
Date: May 18, 2026
T. ROWE PRICE EXPANDS LEADERSHIP TEAM May 18, 2026 New leadership structure will enable strategy, enhance innovation, and deepen focus on client outcomes BALTIMORE, May 18, 2026 /PRNewswire/ -- T. Rowe Price (NASDAQ: TROW) today announced leadership appointments designed to advance the firm's strategy, enhance its pace of innovation, and deepen its focus on driving successful client outcomes. Rob Sharps will continue to lead the firm as chair and chief executive officer, setting the overall vision and strategy for T. Rowe Price. Eric Veiel, currently head of Global Investments, has been named president, effective June 1. As president, Veiel will help drive strategy at the enterprise level— grounded in the firm's long-term, client-first approach—with an emphasis on adoption of innovative technologies to enhance operational efficiency and effectiveness. He will also retain a key leadership role in Investments as co-head of Global Investments and chief investment officer. As part of the transition, Sébastien Page, currently head of Global Multi-Asset and chief investment officer, will become co-head of Global Investments and chief investment officer, also effective June 1, working alongside Veiel to oversee T. Rowe Price's investment research, portfolio management, and investment teams. Page will remain acting head of Global Multi-Asset through September 30. Effective October 1, Wyatt Lee, currently head of Target Date Strategies and co-portfolio manager of the firm's target date portfolios, will become head of Global Multi-Asset. In addition to directing the firm's multi-asset strategies and solutions, he will continue to serve as head of Target Date Strategies and co-portfolio manager of the target date portfolios, providing continuity for one of the firm's most important franchises. Veiel and Page will report to Sharps and remain members of the firm's Management Committee; Lee will be appointed to the committee effective January 1, 2027. "Eric, Sébastien, and Wyatt are proven leaders with deep investments and market experience and a steadfast commitment to clients," said Sharps. "They have helped to shape the strategic direction of our firm, and I am confident that in their expanded roles they will position T. Rowe Price for continued success in the years ahead." Leadership Appointments Eric Veiel—President, Co-head of Global Investments and Chief Investment Officer Veiel has been with T. Rowe Price for more than 20 years and is a senior investment leader. Prior to being named president, he served in key leadership roles across the firm's Investments organization. "I am energized by what we can achieve as we bring the firm's capabilities together even more deliberately," said Veiel. "We will stay true to what has long differentiated T. Rowe Price—independent research, active management, and a focus on clients—while continuing to modernize how we operate and innovate across the enterprise." Sébastien Page—Co-head of Global Investments and Chief Investment Officer Page is a respected investor and leader with 25 years of deep experience across multi-asset investing and solutions. He has led the firm's Global Multi-Asset organization through significant growth and product innovation. "I am excited to partner with Eric and investment leaders around the world as we embed a more connected, outcome-oriented focus throughout the organization," said Page. "We are committed to delivering investment excellence and to creating solutions that meet clients' needs in any environment." Wyatt Lee—Head of Global Multi-Asset (Effective October 1) Lee has over 30 years of investment experience and has been with T. Rowe Price since 1999. In addition to leading Global Multi-Asset, he will continue as co-portfolio manager and head of Target Date Strategies. "Multi-asset and target date strategies are central to how we help clients pursue their long-term goals," said Lee. "I am honored to step into this role and focus on creating more compelling solutions and building deeper, more enduring client relationships." ABOUT T. ROWE PRICE T. Rowe Price (NASDAQ-GS: TROW) is a leading global asset management firm, entrusted with managing $1.83 trillion in client assets as of April 30, 2026, 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/t-rowe-price-expands-leadership-team-302774391.html SOURCE T. Rowe Price Group T. ROWE PRICE CONTACTS: Public Relations, Arminta Plater, 410-577-2813, arminta.plater@troweprice.com; Investor Relations Linsley Carruth,
410-345-3717, linsley.carruth@troweprice.com
FAQ
What leadership changes did T. Rowe Price (TROW) announce in this 8-K?
T. Rowe Price elevated Eric Veiel to president, co-head of Global Investments, and chief investment officer. Rob Sharps remains chair and CEO. Sébastien Page becomes co-head of Global Investments and chief investment officer, while Wyatt Lee will lead Global Multi-Asset starting October 1, maintaining target date responsibilities.
Does Rob Sharps remain CEO of T. Rowe Price after these leadership changes?
Yes, Rob Sharps continues as chair and chief executive officer of T. Rowe Price. He will keep leading the firm’s overall vision and strategy while Eric Veiel, Sébastien Page, and Wyatt Lee take expanded roles overseeing investments, multi-asset strategies, and enterprise-level strategic execution.
When do the new roles for Eric Veiel, Sébastien Page, and Wyatt Lee at T. Rowe Price take effect?
Eric Veiel’s and Sébastien Page’s expanded roles are effective June 1, 2026. Page remains acting head of Global Multi-Asset through September 30. Wyatt Lee becomes head of Global Multi-Asset on October 1 and joins the Management Committee effective January 1, 2027, providing staged leadership transition.
How much in assets does T. Rowe Price (TROW) manage according to this filing?
T. Rowe Price reports managing $1.83 trillion in client assets as of April 30, 2026. About two-thirds of those assets are retirement related, underscoring the importance of its multi-asset and target date strategies in serving long-term client goals across global markets.
What responsibilities will Wyatt Lee have as head of Global Multi-Asset at T. Rowe Price?
Wyatt Lee will lead Global Multi-Asset and continue heading Target Date Strategies. He remains co-portfolio manager of the firm’s target date portfolios, providing continuity for one of T. Rowe Price’s most important franchises while directing multi-asset strategies and solutions for client portfolios.
How do the new leadership roles affect T. Rowe Price’s investment organization?
The changes create a co-head structure for Global Investments and elevate multi-asset leadership. Eric Veiel and Sébastien Page jointly oversee investment research, portfolio management, and investment teams, while Wyatt Lee leads Global Multi-Asset, aligning leadership around investment excellence and client-focused solutions.