t rowe price group inc (TROW) Key Developments
T Rowe Price Hires Nigel Faulkner as Head for Technology Banking
Jul 2 15
T Rowe Price Group has announced that it has named a head for its technology investment banking. Nigel Faulkner, a former CIO at Credit Suisse Group AG, has been named to the position. He is to report to vice chairman, Ed Bernard.
T. Rowe Price Group, Inc. Presents at FundForum Africa 2015, Jun-23-2015 03:30 PM
Jun 19 15
T. Rowe Price Group, Inc. Presents at FundForum Africa 2015, Jun-23-2015 03:30 PM. Venue: Grand Connaught Rooms, 61-63 Great Queen St, London WC2B 5DA, United Kingdom. Speakers: Oliver Bell, Portfoilo Manager – Africa, Middle East & Frontier Markets.
T. Rowe Price Closes Health Sciences Fund to New Investors
Jun 1 15
T. Rowe Price announced that it closed its Health Sciences Fund and similar portfolios for institutional clients at 4 p.m. ET on June 1, 2015. The decision to close the fund was made to maintain the integrity of the fund's investment strategy and to protect the interests of existing shareholders. While the fund is closed to new investors, it will continue to accept additional investments from existing shareholders and from participants in an employer-sponsored retirement plan for which the fund serves as an investment option. New IRAs may also be opened through a direct rollover from an employer-sponsored retirement plan. T. Rowe Price Health Sciences Fund, which launched on December 29, 1995, seeks long-term capital appreciation from the stocks of companies involved in health care, medicine, and life sciences. It has been managed since February 15, 2013, by Taymour Tamaddon, who has been an investment professional at T. Rowe Price since 2004. The Health Sciences Fund received an Overall Morningstar RatingTM of five stars as of April 30, 2015.1 Its ticker symbol is PRHSX. This is the first time the Health Sciences Fund has closed to new investors. The pace of inflows into the fund has increased dramatically in recent years. With $14.8 billion in total assets in the Health Sciences Strategy as of April 30, 2015–including $14.1 billion in the Health Sciences Fund–assets have risen by $5.9 billion since the end of 2013. The strategy had nearly $1.8 billion of inflows during that time, including $1.1 billion this year through April 30. Closing the fund to new investors will help ensure that additional inflows do not overwhelm the portfolio manager's ability to meet the fund's investment objective.
T. Rowe Price Group, Inc. Presents at Bank of America Merrill Lynch 2015 Emerging Markets Corporate Conference, May-27-2015 through May-29-2015
May 25 15
T. Rowe Price Group, Inc. Presents at Bank of America Merrill Lynch 2015 Emerging Markets Corporate Conference, May-27-2015 through May-29-2015. Venue: Fontainebleau Miami Beach, 4441 Collins Avenue, Miami Beach, Florida, United States. Presentation Date & Speakers: May-27-2015, Samy B. Muaddi, Vice President. May-28-2015, Samy B. Muaddi, Vice President.
T. Rowe Price Group Announces Management Changes
May 6 15
The Board of Directors of T. Rowe Price Group announced that James A.C. Kennedy, CEO and president and chair of the firm's Management Committee, has decided to step down from those roles, effective December 31, 2015. He will retire from the firm at the company's Annual Meeting on April 27, 2016. William J. Stromberg who is currently head of Global Equity and Global Equity Research and a member of the firm's Management Committee, will succeed Jim. Bill will become president and CEO and chair of the Management Committee, effective January 1, 2016. He will also join the Board of Directors at that time. As part of the transition, Eric L. Veiel, a director of Equity Research North America and a member of the U.S. Equity Steering Committee, will become head of U.S. Equity and chair of the U.S. Equity Steering Committee, effective January 1, 2016. He will also join the Management Committee at that time.