MutualFundWire.com: 20. John Cammack

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Tuesday, November 24, 2009

20. John Cammack

John Cammack
Head of Third Party Distribution, T. Rowe Price

After building T. Rowe Price's third-party distribution business into the largest AUM division at the company, John Cammack moved on from the company at the end of September, leaving big shoes to fill (As of press time, T. Rowe has yet to name his permanent replacement). A pioneer of the gatekeeper-focused distribution model, Cammack coined the term "gatekeeper distribution" for an internal presentation nine years ago, and that term has since gained legs across the industry.

The 18-year T. Rowe veteran launched the company's third-party distribution division in the early '90s; it now accounts for about 30 percent of T. Rowe’s AUM.

Early on, Cammack anticipated the shift to fee-based pricing, and in recognition of the looming trend, the company decided to be an exhibitor at the Schwab conference in 1992. He also detected an opportunity for T. Rowe to act as a sub-advisor for banks and insurance companies and built a dedicated sales, service and operations team in 1994.

In 2000, Cammack oversaw the rollout of T. Rowe's 12b-1 share classes. He put together one of the first key account coverage teams with an internal analytical support team. In addition, he launched T. Rowe's 529 programs and formed a joint venture with Manulife in 2002.

Cammack, who holds an MBA from Columbia University, joined T. Rowe in 1991. Previously, he worked at Alexandra Armstrong Advisers, a Washington, D.C. financial planning boutique.

At present, he serves as chairman of the Mutual Fund Education Alliance, a board member of the Foundation for Financial Planning and a member of the Investment Companies Committee for FINRA. He also serves on the executive committee of the United Way of Central Maryland.

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