MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, April 19, 2012 Growing Again, T. Rowe Execs Will Build Again The folks at T. Rowe Price [profile] are going to get a little more space to stretch out in Owings Mills. The Baltimore Sun reported this week that the fund firm will expand again in Maryland after taking a three year hiatus from building. The expansion plans were revealed by James A.C. Kennedy on Tuesday after the fund firm's earnings call. He added that T. Rowe Price executives will make a a decision on opening two buildings that have been in mothballs since the 2008 financial crisis sometime in the next month and employees will likely move in sometime in the second half of 2013. "Because shareholders stopped calling as much and processing went down relative to our expectations, we didn't need those buildings as early as we thought," Kennedy told the paper. "We put them in mothballs for a little bit." The Owings Mills campus now includes four buildings. Yet space is getting tight as the fund firm plans to hire at least 200 to 300 more workers. Last year it added 100 new people in the Baltimore region and 203 nationally. All counted it employs 5,255 workers with about half in Owings Mills. Printed from: MFWire.com/story.asp?s=39784 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |