A global asset manager that invests for retirement savers and institutions, managing actively chosen stocks, bonds, and target-date funds for clients in dozens of countries. Founded in Baltimore in 1937 by Thomas Rowe Price Jr., it bears his name and helped pioneer the "growth stock" style of investing. Fun fact: Price's first mutual fund, launched in 1950, was one of the earliest no-load funds, charging no sales commissions to buyers.
T. Rowe Price appoints Eric Veiel as President, Co-Head of Global Investments and CIO
Eric L. Veiel appointed President, Co-Head of Global Investments and Chief Investment Officer, effective immediately (May 15, 2026) per the 8-K, with the press release stating effective June 1.
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Rob Sharps remains CEO and chair, with Veiel reporting to him.
Sébastien Page becomes Co-Head of Global Investments and CIO, effective June 1, and remains acting head of Global Multi-Asset through September 30.
Wyatt Lee becomes Head of Global Multi-Asset effective October 1, continuing as head of Target Date Strategies and co-portfolio manager.
Lee will join the Management Committee effective January 1, 2027; Veiel and Page remain members.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
T. Rowe Price reports Q1 2026 EPS of $2.23, adjusted EPS of $2.52, AUM of $1.7 trillion
First quarter 2026 net revenues were $1,857.0 million, up 5.3% from Q1 2025 and down 4.0% from Q4 2025.
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Diluted EPS was $2.23 on a GAAP basis and $2.52 on an adjusted basis, compared to $2.15 and $2.23 in Q1 2025, respectively.
Assets under management were $1.7 trillion at March 31, 2026, down from $1,775.6 billion at December 31, 2025, with net client outflows of $13.7 billion.
The firm returned $629 million to stockholders through dividends and share repurchases during the quarter.
Operating expenses were $1,176.5 million, up 0.8% year-over-year, and included a $10.0 million restructuring charge.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
T. Rowe Price amends Glenn August's employment agreement as OHA CEO, effective April 21, 2026.
August receives an annual base salary of $350,000, eligibility for annual bonus, equity, and incentive payments, and standard employee benefits; no compensation for Board service.
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On April 21, 2026, the independent directors approved an amended and restated employment agreement with Glenn R. August, CEO of Oak Hill Advisors (OHA), a T. Rowe Price subsidiary.
If terminated without cause or for good reason, August gets 12 months' base salary continuation, prorated annual bonus, and 12 months of employer-paid COBRA, subject to a release and covenants.
August is subject to noncompete and customer non-solicitation covenants through the later of one year post-termination or December 31, 2028, and a two-year employee non-solicitation covenant.
For 2027, August was awarded 16.333% of the OHA Partner Cash Compensation Pool and 8.166% of the Value Creation Incentive Pool, with a supplemental pool funded up to $20 million annually from 2027 through 2030.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Earnings8-K
T. Rowe Price reports Q4 2025 EPS of $1.99, adjusted EPS of $2.44, AUM of $1.8 trillion
Assets under management were $1.8 trillion at December 31, 2025, up 10.5% from a year earlier.
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Net client outflows were $25.5 billion in Q4 2025 and $56.9 billion for full-year 2025.
Q4 2025 net revenues rose 6.0% year-over-year to $1.93 billion; full-year net revenues were $7.31 billion, up 3.1%.
Q4 2025 GAAP net income was $445.3 million, up 1.2% year-over-year; full-year GAAP net income was $2.09 billion, down 0.6%.
The firm returned $426 million to stockholders in Q4 2025 and $1.8 billion in 2025 via dividends and buybacks.
Q4 2025 included a $148.8 million restructuring charge related to an expense management program.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
T. Rowe Price COO Kimberly Johnson to resign Dec 31; new Technology, Data, and Operations function led by Ramon Richards
Richards will oversee enterprise operations, digital platforms, and data strategy, and will join the Management Committee, reporting to CEO Rob Sharps.
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Kimberly Johnson, Chief Operating Officer, will resign and leave T. Rowe Price on December 31, 2025.
The company announced the creation of a new Technology, Data, and Operations function, led by Ramon Richards, who joined as CTO in 2023.
Johnson had served as COO since 2022 and was credited with modernizing technology and data infrastructure and driving AI adoption.
The announcement was made on November 3, 2025, via a press release included as an exhibit to the 8-K.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits