President Obama intends to nominate Mary J. Miller, head of fixed income at T. Rowe Price, to be the Treasury Department's assistant secretary for financial markets, the White House said Monday.

Mary Miller T. Rowe Price Head of Fixed Income

Miller has been with the Baltimore fund firm's fixed income division for 26 years, and has led it in the last five.

Because Miller will not fill the government post until the Senate confirms her, T. Rowe has not yet announced who might fill her spot.

“If Mary is confirmed, we will announce a succession plan that we believe will continue our long tradition of investment management excellence for our clients around the world,” T. Rowe officials said in a news release on Monday. 

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