PRESS RELEASE: T. Rowe Price Expands Leadership Team

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.