Feb. 9, 2004 — T.Rowe Price Group (TROW) said William Reynolds, the director of its fixed-income division, will retire in April. Assistant director Mary Miller will succeed him as head of the unit, which oversees about $55 billion in assets.
Separately, Price said it will close the $5.4-billion T Rowe Price Small Cap Stock Fund (OTCFX) to new investors on February 20 to keep its assets from increasing to the point where they hurt its performance.
Reynolds joined the Baltimore-based firm in 1981 and became director of the fixed-income unit in 1996. The unit’s assets have increased by 80% under Reynolds, the company said.