T. Rowe Price
 |
|
| Public | |
| Traded as |
NASDAQ: TROW S&P 500 Component |
| Industry | Investment Management |
| Founded | 1937 |
| Headquarters |
100 East Pratt Street Baltimore, Maryland USA |
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Key people
|
William Stromberg, President and Chief Executive Officer Brian C. Rogers, Chairman and Chief Investment Officer Edward C. Bernard, Vice Chairman Kenneth V. Moreland, Chief Financial Officer |
| Products | Investment management, mutual funds, advisory services, retirement planning |
| AUM | $810.8 billion USD (December 31, 2016) |
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Number of employees
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6,300 (December 31, 2016) |
| Website | www |
T. Rowe Price Group, Inc. is an American publicly owned global asset management firm that offers funds, advisory services, account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm, with assets under management of more than $800 billion dollars at the end of 2016, is headquartered at 100 East Pratt Street in Baltimore, Maryland, and its 16 offices serve clients in 45 countries around the world.
It was founded in 1937 by Thomas Rowe Price, Jr. who is best known for developing the philosophy of investing.
Thomas Rowe Price Jr. started in finance in the 1920s as an entry-level researcher and account manager at Baltimore-area brokerages. He found that he liked the challenges imposed by investing nearly as much as he disliked the common practices of sales-oriented brokerages at the time. So, in 1937, he founded a firm that went against that grain in three major ways: charging fees based on assets under management rather than sales volume, actively managing his clients' accounts strictly as a fiduciary, and investing in instead of . This approach, which emphasized "discipline, process consistency, and fundamental research," garnered success for the firm and its namesake, who became well known as the "father of growth investing" and was nicknamed the "Sage of Baltimore" by Forbes. The firm has diversified its products and methodology, but hews closely to the original values upon which it was founded.
Thomas Rowe Price, Jr. founded T. Rowe Price & Associates in Baltimore in 1937. The firm was originally headquartered at 10 Light Street and staffed by a small pool of associates, many of whom left Legg Mason's precursor, MacKubin, Legg and Co. along with Mr. Price. Initially a very small firm focused on wealth management and private investing accounts for Baltimore-area families, the company struggled through the financial turbulence of the Great Depression and World War II before gaining solid footing at the end of the 1940s. By 1950, its clientele grew too large for the staff to manage accounts individually, so the firm incorporated and launched its first mutual fund, the T. Rowe Price Growth Stock Fund.
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Wikipedia