T. Rowe Price

Office address: 1307 Point Street, Baltimore, MD 21231
Website: troweprice.com/en/us
Year established: 1937
Company type: financial services
Employees: 8,000+
Expertise: asset management, mutual funds, retirement planning, active ETFs, target date funds, fixed income, multi-asset strategies, alternatives, institutional investing, financial advisory
Parent company: T. Rowe Price Group, Inc.
Key people: Robert Sharps (CEO); Jennifer Dardis (CFO); Kimberly Johnson (COO); Arif Husain, Sébastien Page, Justin Thomson, and Eric Veiel (chief investments officers)
Financing status: corporation

Headquartered in Baltimore, T. Rowe Price is a financial services company with $1.77 trillion in AUM as of 2025. The company offers mutual funds, active ETFs, retirement planning, and investment advice to clients in 58 countries. It is known for its active management, research-driven approach, and strong focus on retirement solutions.

History of T. Rowe Price

T. Rowe Price began in 1937 in Baltimore, Maryland when it was founded by Thomas Rowe Price Jr. The company put clients first by charging fees based on assets, not commissions. This approach set the firm apart from other companies in the industry.

Growth and early milestones

The firm’s first investment fund launched in 1950. By the 1960s, T. Rowe Price had expanded its team and developed a reputation for careful research and long-term thinking. The company stayed in Baltimore, choosing not to move to Wall Street, which helped retain its independent spirit.

T. Rowe Price’s expansion

The company became known for its growth stock theory and focus on diversification. In 1960, it launched the New Horizons Fund, which invested in small, fast-growing companies.

The firm started investing in emerging markets in 1985, well before many others, and launched its first dedicated emerging markets strategy in 1990. In 2002, it became a pioneer in target date investing, offering solutions that adjust over time to help people prepare for retirement.

Adapting to change

The company faced many market ups and downs, from the dot-com crash in the early 2000s to the global financial crisis in 2008. T. Rowe Price avoided risky trends and focused on research and risk management, helping it weather tough times.

In 2020, it launched its first actively managed ETFs to meet changing investor needs. Then in 2021, it expanded into alternative credit markets by acquiring Oak Hill Advisors.

Recent developments

In 2025, T. Rowe Price announced job cuts across the firm after several years of client outflows. The company is closing some smaller strategies and offering support to affected employees as it works to return to organic growth. Despite these challenges, the firm continues to look ahead and adapt to the needs of investors in a changing market.

T. Rowe Price products and services 

T. Rowe Price provides investment products designed to fit specific client goals:

Mutual funds and ETFs

• mutual funds: diverse options across sectors and styles
• ETFs: actively managed and index-based funds
• no-load funds: no sales charges or commissions
• low-cost funds: competitive expense ratios

Asset class solutions

• equities: funds by region, sector, and market cap
• fixed income: strategies for income and capital preservation
• multi-asset: portfolios blending stocks, bonds, and more
• alternatives: private credit and non-traditional investments

Retirement and target date solutions

• target date funds: portfolios that adjust as retirement nears
• retirement planning: solutions for individuals and employers

Impact and ESG investing

• impact funds: investments with social or environmental aims
• ESG strategies: integrating responsible investing principles

Research and advisory tools

• investment research: tools for advisors and institutions
• portfolio analytics: support for building and managing portfolios

T. Rowe Price is also recognized for its collaborative research culture and commitment to long-term performance. The firm’s professionals work together to identify opportunities and risks, aiming to deliver steady results in all market conditions.

Culture and corporate values

T. Rowe Price states that an inclusive workplace is a core value and supports associates reaching their full potential. According to the firm, all employees are seen as leaders and benefit from a collaborative environment focused on respect and growth.

The company also highlights a range of benefits for its staff:

• compensation and bonus: competitive pay and annual bonus eligibility
• stock and savings: employee stock plan with company match, financial wellness coaching
• retirement program: 401(k) with company contributions, matching, and immediate eligibility
• health and well-being: medical, dental, vision, mental health, and flexible spending accounts
• family care: paid parental leave, backup childcare, eldercare, fertility and adoption support
• paid time off: vacation, sick days, holidays, personal and volunteer time
• wellness perks: on-site gyms, fitness reimbursement, healthy program discounts
• extra benefits: tuition assistance, legal plan, discounts, and passes to attractions
• career development: mentoring, formal and self-guided learning, and programs for new and rising talent

T. Rowe Price reports that associates volunteered 34,000 hours globally and supported many nonprofits. The firm, along with the T. Rowe Price Foundation, directed $13.1 million to community giving and partnerships. In 2025, 40 percent of associates donated or volunteered to help drive positive change.

About CEO Robert Sharps and key people

Robert W. Sharps, CFA is chair of the board, CEO, and president at the firm. Sharps joined the company in 1997 as an analyst focused on financial services stocks in the US Equity Division. He holds a bachelor’s degree from Towson University, an MBA from The Wharton School, and is a chartered financial analyst.

Today, the firm's key staff continues T. Rowe Price’s tradition and guides its active management and culture of integrity:

• Jennifer Dardis leads financial planning and ensures strong reporting as the firm’s CFO
• Kimberly H. Johnson is responsible for business operations and manages the company’s day-to-day activities as COO
• Arif Husain, CFA develops fixed income strategies and guides the bond investment team as global fixed income head and CIO
• Sébastien Page, CFA manages multi-asset portfolios and oversees related investment strategies as CIO
• Justin Thomson advances global research and sets direction for the investment institute in his CIO role
• Eric L. Veiel, CFA leads investment teams and oversees asset allocation as head of global investments and CIO

The executive team, led by Rob Sharps, focuses on building long-term value for clients. Investment leaders support teams worldwide and help position portfolios for future growth.

The future at T. Rowe Price

T. Rowe Price released a white paper showing that many Americans do not fully understand Social Security benefits. The company used its 2024 Retirement Savings and Spending Study to highlight these knowledge gaps and low confidence in the system. The firm uses these insights to guide clients and advisors on retirement planning.

In 2025, the firm partnered with Goldman Sachs to develop new investment solutions for retirement and wealth clients. It will blend its retirement expertise with Goldman’s private market knowledge to launch co-branded target-date strategies and model portfolios. This partnership positions T. Rowe Price to expand its offerings and better serve clients as demand grows for alternative investments and tailored advice.