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T. Rowe Price Names New President as Flows Remain a Challenge
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T. Rowe Price Names New President as Flows Remain a Challenge
T. Rowe Price launches new leadership with Eric Veiel as president and co-head of Global Investments, while Rob Sharps stays CEO. Shares indicated up 0.9% premarket at $104.53. Net outflows hit $10.6 billion in April; assets under management fell by $65.9 billion in Q1. Net revenue rose 5.3% to $1.86 billion, EPS $2.52. Fee pressure and client withdrawals persist as rivals push cheaper products. Goldman plans to buy up to $1 billion in T. Rowe s…
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