BBJ: T. Rowe Price names new President, COO

By Holden Wilen
February 11, 2021

Two top executives who are helping to steer T. Rowe Price Group Inc. through a period of significant disruption in the financial industry have moved into new roles as part of a management shuffle.

Rob Sharps, currently head of investments for the Baltimore-based money manager, has been named president, effective February 11. Céline Dufétel, currently chief financial officer, has been named chief operating officer.

In addition to their new titles, Sharps will continue to serve as head of investments and group chief investment officer while Dufétel will remain CFO and treasurer. William J. Stromberg will remain CEO and chairman of the company.

Stromberg in a statement said the changes come as T. Rowe Price continues to grow and evolve to keep up with the latest asset management trends. The company reported assets under management of $1.46 trillion as of Jan. 31.

In the past few years, T. Rowe Price has launched several new investment strategies and vehicles, including actively managed exchange-traded funds last year. The company has also broadened its distribution, grown internationally and modernized its technology and operations.

Sharps is a 23-year veteran of T. Rowe Price and former longtime portfolio manager of the U.S. Large-Cap Growth Equity Strategy. As head of Investments, he has worked with the investment teams to develop new strategies. He is also involved with corporate strategy, product development and pricing. He is playing a key role in T. Rowe Price’s planned launch of a new investment adviser subsidiary set for 2022.

Dufétel joined T. Rowe Price in 2017 and leads the firm’s financial activities, investor relations, strategy, risk oversight, corporate real estate and workplace services, global investment operations. She has overseen the company’s pandemic response and helped maintain a strong balance sheet, including reserves of more than $2 billion in cash as of Dec. 31.

As chief operating officer, Dufétel will take on responsibility of global client account services effective April 1, and global technology effective July 1.

To learn more, visit the Baltimore Business Journal website.

Source: Baltimore Business Journal