T. Rowe chairman to retire in March after nearly 35 years
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Brian Rogers, the chairman and chief investment officer of T. Rowe Price Group, will retire in March after nearly 35 years with the firm.
Rogers, 61, will continue to serve on the board of directors as a non-executive chair.
“Brian has brought an uncommon measure of common sense to our investment process and has made remarkable contributions as an investor, senior executive, and board member,” William J. Stromberg, president and CEO of the Baltimore-based money management firm, said in a statement.
T. Rowe named six senior investment leaders to succeed Rogers as chief investment officers. The firm said the move is in line with its practice of trusting individual managers to shape investment strategy. The six new chief investment officers will assume their new roles March 31, when Rogers steps down:
Rob Sharps, group CIO, with responsibility for coordinating the activities of the team.
Henry Ellenbogen, CIO of U.S. equity growth.
David Giroux, CIO of U.S. equity multi-discipline. John Linehan, CIO of U.S. equity value. Justin Thomson, CIO of international equity. Mark Vaselkiv, CIO of fixed income. Rogers joined T. Rowe in 1982. He was named to the board in 1997 and has served as its chair since 2007.
T. Rowe shares closed Tuesday at $63.82 each, down19 cents.