T. Rowe Price Group Inc., a global asset management firm and retirement plan provider, announced on Monday changes to the operating model for its U.S. institutional business.
The key structural changes to the firm’s institutional Americas business include integrating the U.S. regional teams—Northeast, Southeast, Central and West—into one team under a single leader. T. Rowe Price is also creating a U.S. institutional key accounts practice for its most strategic relationships that will focus on client management, risk and growth planning, and enterprise connectivity.
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The firm is also launching a four-person national field consultant coverage team solely dedicated to supporting key field consultants across the U.S.
“T. Rowe Price’s new institutional operating model … provide[s] world-class service through a total-portfolio approach to relationship management,” said Chris Newman, T. Rowe Price’s head of Americas distribution, in a statement.
The firm’s relationship management will be co-headed by Kyle Lagratta, the current associate head of institutional business development, and Chris Tarui, the current head of global institutional alternatives distribution, U.S. consultant relations and outsourced CIO.
Tarui, who joined the firm in 2021, will continue to lead U.S. consultant relations, and Lagratta, who joined in 2014, will oversee defined contribution relationship managers. Both Tarui and Lagratta will report to Doug Greenstein, head of U.S. institutional.
Kim Young, a senior relationship manager for key accounts, will lead the new key accounts practice and report to Greenstein. She has been with T. Rowe Price since 1998.
Frank Clarkson will be the lead field consultant relationship manager role in the Central region, Lawson Hauptfuhrer will head the Southeast, and Abby Groom will head the West Coast.
In March, T. Rowe Price announced that Jessica Sclafani was the new head of the retirement strategist team. On June 1, Eric Veiel became the company president, sharing co-head of global investments duties with CIO Sébastien Page.
T. Rowe Price managed $1.89 trillion in assets under management as of May 31.
