Brian Rogers, CIO and chairman of T.Rowe Price, is stepping down and taking up the role of non-executive chair of the board of directors.
He will be succeeded by six senior investment leaders who will each take separate CIO roles within the firm’s equity and fixed income divisions.
Rogers will retire on March 31, 2017, following a 35-year stint at the firm. He will step down from his role as CIO which he has held since 2004.
The team will share CIO responsibilities which will include providing investment thought leadership, partnering with investment division leaders to develop investment talent and capabilities.
Ellenbogen, Giroux, Thomson, Vaselkiv, and Linehan will maintain their current management responsibilities.
As previously announced, Sharps will be stepping down as portfolio manager of the US Large Cap Growth Equity fund and will become co-head of global equity.
President and CEO of T.Rowe Price, William J Stromberg said: ‘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. His impact on our organisation will be long-lasting, and I am grateful that we will continue to benefit from his wisdom.'
‘The appointments of our new CIOs reflect the deep investment talent the firm has across geographies, asset classes, and investment disciplines. Individually, each is an outstanding investor, thought leader, mentor, and representative of our core values.'