One of the top investment executives at T. Rowe Price
] is preparing to retire.
| Christopher D. Alderson|
T. Rowe Price
Head of International Equity, Co-Head of Global Equity
This morning Bill Stromberg
, president and CEO of T. Rowe Price
that Chris Alderson
, head of international equity and co-head of global equity, will retire
from the firm at the end of 2020. Justin Thomson
, chief investment officer of international equity, is scheduled to succeed Alderson as head of international equity at the beginning of 2021.
Once promoted, Thomson will report to Rob Sharps
, head of investments. It's not clear if Thomson will also rise to co-head of global equity alongside fellow co-head Eric Veiel, who also serves as of head of U.S. equity.
Thomson also serves as lead PM of T. Rowe's International Small-Cap Equity Strategy
. On March 1, Ben Griffiths
will become co-PM of that strategy alongside Thomson for "a thoughtful transition period" of unspecified length before completely taking over the reins of the strategy from Thomson. Griffiths, a vice president, is PM of T. Rowe's European Smaller Companies Strategy
Stromberg lauds Alderson, a 32-year company veteran, for "his unwavering commitment to investment excellence, his true global perspective, and his care for our culture."
"He has been instrumental in the firm's success in building our global equity platform and in expanding our business internationally," Stromberg states.
Alderson, for his part, lauds T. Rowe as "a high-quality firm" with "many excellent senior leaders and investors."
"The International Equity division is in a strong place, and the firm has become an ever more global business," Alderson states. "I have confidence that Justin Thomson will do an outstanding job in my place."
Sharp sings praises of Thomson's "successful track record of performance" and describes the rising executive "as both a mentor and role model across the firm."
, an alumnus of the University of Edinburgh, started out at Robert Fleming and Co. in 1985, then joined the Rowe Price-Fleming International joint venture in 1988.
Thomson, an alumnus of Cambridge, worked at GT and Invesco before joining T. Rowe in 1998. Griffiths, an alumnus of Stirling University and of Oxford, worked at Baillie Gifford before joining T. Rowe in 2006.
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