After 18 years at T. Rowe Price, John Cammack, current head of third party distribution at the mutual fund company, plans to retire September 30. A T. Rowe Price spokesman said it’s still being determined whether Cammack will continue his various roles in the financial planning and investing communities once he retires from the Baltimore-based fund company. Cammack is currently chairman of the Mutual Fund Education Alliance and is a member of the Investment Companies Committee for the Financial Industry Regulatory Authority (FINRA). He’s also a board member of the Foundation for Financial Planning, and has served on the board of governors of the Certified Financial Planner Board of Standards.
T. Rowe Price Vice Chairman Edward Bernard said in a statement that “John was a driving force behind creating our Third Party Distribution division, and building it into a critically important business for the firm, serving a wide array of financial intermediaries.” A recognized industry leader, Bernard said Cammack “leaves behind a strong and healthy TPD organization, with a superb record of effective sales and client service, marked by very high client satisfaction ratings.”
In addition to serving as chairman-elect of the United Way of Central Maryland, T. Rowe Price says that once retired, “Cammack plans to focus on other social initiatives incorporating his interests in systems theory, behavioral economics, and neuroscience.”
T. Rowe Price says it will be conducting a broad search to identify Cammack’s successor. On an interim basis, Todd Ruppert, president of the firm’s global investment services division, will provide leadership for TPD along with Bernard.