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T. Rowe Price Expands 2 Execs’ Duties

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Two seasoned pros have expanded their C-suite duties at T. Rowe Price, the $1.46 trillion investment management firm announced Thursday.

Rob Sharps, head of Investments and group chief investment officer, has also been named president. Céline Dufétel has been named chief operating officer in addition to her current role as chief financial officer and treasurer.

Both will remain members of the firm’s management committee and report to Bill Stromberg, CEO and chairman of the board.

“The investment management industry is undergoing a period of change and disruption,”  Stromberg said in a statement. “We have developed new investment strategies and vehicles, broadened and strengthened our distribution, and modernized our technology and operations. The size and complexity of the company have increased significantly, and we expect this trend to continue.

“Rob and Céline have each expanded their roles and influence in recent years to help us navigate this period of change. Their appointments today reflect the growing breadth of their contributions and our intention to deepen our senior leadership in preparation for additional growth in the future,” he said.

Sharps, a 23-year firm veteran, had for years been portfolio manager of the firm’s U.S. Large-Cap Growth Equity Strategy. As head of investments, he has expanded team capabilities and developed new strategies, the company said. In addition, he has been involved with corporate strategy, product development and pricing and key client relationships for the last few years.

He is also executive sponsor of the firm’s Black Leadership Council, as well as a director on the T. Rowe Price Funds’ Board. He chairs the Investment Management Steering Committee and serves on the Management, International Equity Steering and several other board committees.

Before joining T. Rowe Price, he was with KPMG Peat Marwick. He has an MBA in finance from The Wharton School, University of Pennsylvania, and is a CFA.

Dufétel’s Additional Roles

Dufétel, who joined T. Rowe Price in 2017, will also handle Global Client Account Services effective April 1 and Global Technology effective July 1. She chairs the firm’s Risk and Operational Steering Committee and serves on the Management and Product Strategy committees. She has also headed up the firm’s pandemic response team.

Previously, she was with Neuberger Berman, where she was managing director and global head of marketing, product management and client service. Before that, she was with McKinsey & Co.

Dufétel holds a master’s degree in applied mathematics and economics from École Polytechnique, France, and a master’s degree in finance from Princeton University.

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