The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Where Stromberg Is Focusing T. Rowe's Dollars In 2019 Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 31, 2019

Where Stromberg Is Focusing T. Rowe's Dollars In 2019

News summary by MFWire's editors

Bill Stromberg is focusing T. Rowe Price's [profile] 2019 investments in two areas.

William J. Stromberg
T. Rowe Price
President, CEO
The Baltimore-based mutual fund firm's chief revealed that tidbit and more yesterday in an interview with the Baltimore Business Journal. The paper reports that, according to Stromberg, he will boost investment mostly in T. Rowe's "investment teams and client-facing teams."

Stromberg made big boosts to both of those teams last year, too. The paper notes that he increased the investment staff to more than 600 in 2018, an increase of nearly seven percent, and that he also boosted the intermediary-focused client-facing team by 20 percent. Operating expenses are projected to rise by between four percent and seven percent this year (slower than projections for the past two years).

Other tidbits from the interview include Stromberg's take on the possibilities of a recession or another government shutdown, international plans, and "the No. 1 issue" facing T. Rowe's hometown.

Earlier yesterday, the T. Rowe Price team reported Q4 2018 diluted earnings of $1.54 per common share, missing analysts expectations by $0.06, though net quarterly revenue of $1.3 billion was in line with expectations. AUM fell 11.2 percent for the quarter and 2.9 percent year-over-year to $962.3 billion on December 31, 2018. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use