T. Rowe Price - wikipedia T. Rowe Price T. Rowe Price Group, Inc. Type Public Traded as NASDAQ : TROW S&P 500 Component Industry Investment Management Founded 1937 ; 81 years ago ( 1937 ) Founder Thomas Rowe Price, Jr. Headquarters 100 East Pratt Street Baltimore, Maryland, U.S. Key people William J. Stromberg ( President & CEO ) Edward C. Bernard ( Vice Chairman of the Board ) Céline Dufétel ( CFO ) Products Investment management Mutual funds Advisory services Retirement planning Revenue US $ 4.20 billion ( 2017 ) Operating income US $ 1.90 billion ( 2017 ) Net income US $ 1.22 billion ( 2017 ) AUM US $ 991.1 billion ( 2017 ) Total assets US $ 6.23 billion ( 2017 ) Total equity US $ 5.01 billion ( 2017 ) Number of employees 6,881 ( 2017 ) Website TRowePrice.com Footnotes / references T. Rowe Price Group, Inc. is an American publicly owned global asset management firm that offers funds, advisory services, account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm, with assets under management of more than $900 billion at the end of 2017, is headquartered at 100 East Pratt Street in Baltimore, Maryland, and its 16 international offices serve clients in 47 countries around the world. It was founded in 1937 by Thomas Rowe Price, Jr. who is best known for developing the growth stock philosophy of investing. Contents 1 Business Philosophy 2 History 2.1 1937 - 1986 2.2 1986 - present 3 Awards and recognition 4 Notable people 4.1 Board of directors 4.2 Others 5 References 6 External links Business philosophy Thomas Rowe Price Jr. started in finance in the 1920s as an entry - level researcher and account manager at Baltimore - area brokerages, but disliked the operating models of sales - oriented firms at the time. When he founded T. Rowe Price & Associates in 1937, his firm diverged from the norm in three major ways : charging fees based on assets under management rather than sales volume, actively managing his clients ' accounts strictly as a fiduciary, and investing in growth stocks instead of value stocks. He became well known as the `` father of growth investing '' and was nicknamed the `` Sage of Baltimore '' by Forbes. History 1937 - 1986 Thomas Rowe Price, Jr. founded T. Rowe Price & Associates in Baltimore in 1937. The firm was originally headquartered at 10 Light Street and staffed by a small pool of associates, many of whom left Legg Mason 's precursor, MacKubin, Legg and Co. along with Mr. Price. Initially a very small firm focused on wealth management and private investing accounts for Baltimore - area families, the company struggled through the financial turbulence of the Great Depression and World War II before gaining solid footing at the end of the 1940s. By 1950, its clientele grew too large for the staff to manage accounts individually, so the firm incorporated and launched its first mutual fund, the T. Rowe Price Growth Stock Fund. 100 East Pratt Street Gaining traction in Baltimore and along the U.S. eastern seaboard, the firm continued a steady expansion of clientele, staff, and geographic reach. By 1960, Mr. Price felt the need to open a second fund, named the New Horizons Fund, focused on growth investment opportunities, and especially technological firms like Xerox, IBM, and Boeing. In need of more room, headquarters were moved in 1962 to the new One Charles Center building designed by Ludwig Mies van der Rohe nearby in downtown Baltimore. At this same juncture, Mr. Price began to prepare for retirement, resigning as president of the firm in 1963, delegating some responsibilities, and selling his shares in the company. Despite this, Mr. Price maintained an active presence in the firm for several years, and urged the opening of the New Era Fund in 1969 as a response to the rapid inflation he predicted would dominate the 1970s. In 1971, the year Mr. Price completely retired, T. Rowe Price opened its Fixed Income Division, and began to modernize and diversify its operations. In the 1970s and early 1980s, T. Rowe Price kicked off more assertive growth than before, moving to its current location at 100 East Pratt Street and opening its first international office. In 1979, T. Rowe Price launched a joint venture with British asset manager Robert Fleming & Co. named Rowe Price - Fleming International. The venture, which managed $39 billion at its height in 2000, allowed T. Rowe Price to offer a broader range of services and expertise internationally. 1986 - present T. Rowe Price held its initial public offering, valued at nearly $200 million, in 1986. Shortly thereafter, the firm began establishing larger office complexes in the U.S. and research offices around the world, beginning with a Hong Kong office in 1987. Retirement Plan Services were launched in the 1990s alongside additional new services and funds, including mutual funds acquired from other companies such as USF&G. This momentum, and the firm reaching $100 billion assets under management, pushed T. Rowe Price to create an asset management partnership with Sumitomo Bank and Daiwa Securities in Tokyo in 1999, and to purchase 100 % interest of the London - based Rowe Price - Fleming International, which was renamed T. Rowe Price International. Also in 1999, T. Rowe Price was added to the S&P 500 Index. On the strength of its ethic of risk aversion, fundamental research, and active management approach, T. Rowe Price somewhat predicted and largely avoided the dot - com bubble of 2000. Its ethic of caution was so different from the norm at the time that The Wall Street Journal expressed surprise at its non-speculation on profitable technology stocks just a week before the markets began to crash in March 2000. In 2001, the company launched T. Rowe Price Funds SICAV, domiciled in Luxembourg, for non-U.S. institutional investors and financial intermediaries. Two years later it created target - date retirement funds. In 2010, T. Rowe Price bought a significant interest in Unit Trust of India, India 's oldest mutual fund company and one of its five largest. Since 2000, T. Rowe Price has opened global offices in locations ranging from Madrid and Dubai to Stockholm and Sydney. Awards and recognition 2017 Ranked one of the World 's Most Admired Companies by Fortune 2016 Top Companies for Women Technologists by the Anita Borg Institute Leadership Index 2015 P&I Best Places to Work in Money Management by Pension and Investments 2015 Best Employers for Healthy Lifestyle by the National Business Group on Health Notable people Board of directors Mark S. Bartlett, Former Managing Partner of Ernst & Young Edward C. Bernard, Vice Chairman of T. Rowe Price Mary K. Bush, Founder and President of Bush International LLC H. Lawrence Culp, Former President of Danaher Corporation, Lecturer at Harvard Business School Freeman Hrabowski III, President of University of Maryland, Baltimore County Robert F. MacLellan, Chairman of Northleaf Capital Partners Brian C. Rogers, Chairman and CIO of T. Rowe Price Olympia Snowe, Former American Senator, founder of Olympia Snowe LLC William Stromberg, President and CEO of T. Rowe Price Dwight S. Taylor, President of COPT Development & Construction Anne Marie Whittemore, McGuireWoods LLP Sandra S. Wijnberg, Executive Adviser at Aquiline Capital Partners LLC Alan D. Wilson, Former President of McCormick & Company Others Eddie C. Brown, former portfolio manager at T. Rowe Price, Founder and President of Brown Capital Management, and noted philanthropist Abby Joseph Cohen, former research director at T. Rowe Price, named Institutional Investor 's top strategist in the late 1990s. Roger McNamee, former manager of the T. Rowe Price Science & Technology Fund who since founded the venture capital firm Elevation Partners Mary J. Miller, former director of the firm 's Fixed Income Division who left to work for the U.S. Department of the Treasury, becoming Assistant Secretary of the Treasury for Financial Markets, then Under Secretary of the Treasury for Domestic Finance, and finally the Deputy Secretary of the Treasury. Alfred Sommer, former board member of T. Rowe Price and noted epidemiologist at the Johns Hopkins Bloomberg School of Public Health References ^ Jump up to : `` US SEC : Form 10 - K T. Rowe Price Group, Inc ''. U.S. Securities and Exchange Commission. Retrieved March 15, 2018. ^ Jump up to : `` The Greatest Investors : Thomas Rowe Price, Jr ''. Investopedia. 2003 - 12 - 01. Retrieved 2016 - 06 - 23. Jump up ^ `` T. Rowe Price Was Right For His Clients ' Portfolios ''. Investor 's Business Daily. 2011 - 06 - 16. Retrieved 2017 - 02 - 15., Jump up ^ `` T. Rowe 's Stromberg Explains the Importance of Integrity ''. Pensions and Investments. Retrieved 2017 - 02 - 23. Jump up ^ `` Price Is Right ''. Forbes. 2005 - 01 - 10. Retrieved 2017 - 02 - 20. ^ Jump up to : `` T. Rowe Price Associates -- International Directory of Company Histories ''. Encyclopedia.com. 2006. Retrieved 2017 - 02 - 20. Jump up ^ `` National Register of Historic Places : One Charles Center, Baltimore '' ( PDF ). Retrieved 2017 - 02 - 20. Jump up ^ `` T. Rowe Price Approach to Investing in Growth Stocks ''. American Association of Individual Investors Journal. 1996. Retrieved 2017 - 02 - 28. Jump up ^ `` T. Rowe Price Acquires Fleming 's Interest in International Joint Venture ''. PRNewswire. 2000 - 08 - 08. Retrieved 2017 - 02 - 15. Jump up ^ `` T. Rowe Price Plans Stock Offer ''. New York Times. 1986 - 02 - 19. Retrieved 2017 - 02 - 28. Jump up ^ `` Briefcase : T. Rowe Price Encourages Trend to Drop Sales Charge ''. New York Times. 1992 - 10 - 03. Retrieved 2017 - 02 - 21. Jump up ^ `` Baltimore 's T. Rowe Price rises on Joining Index ''. Baltimore Sun. 1999 - 10 - 17. Retrieved 2017 - 02 - 21. Jump up ^ `` T. Rowe Price Stays Aloof as European Suitors Call ''. Wall Street Journal. 2000 - 07 - 31. Retrieved 2017 - 02 - 28. Jump up ^ `` T. Rowe Pays High Price for Avoiding Tech Craze ''. Wall Street Journal. 2000 - 03 - 06. Retrieved 2017 - 02 - 15. Jump up ^ `` The Price is Right at T. Rowe ''. Barron 's. 2008 - 07 - 21. Retrieved 2017 - 02 - 28. Jump up ^ `` T. Rowe Price Completes Acquisition in India ''. Baltimore Sun. 2010 - 01 - 21. Retrieved 2017 - 02 - 28. Jump up ^ `` T. Rowe Price Global Offices ''. T. Rowe Price. Retrieved 2017 - 02 - 20. Jump up ^ `` 2017 World 's Most Admired Survey ''. Fortune. Retrieved 2017 - 02 - 21. Jump up ^ `` World 's Most Admired Companies - T. Rowe Price - Securities and Asset Management ''. Fortune. Retrieved 2017 - 02 - 21. Jump up ^ `` ABI Names Highest Scoring Organizations from 2016 Top Companies Program ''. Anita Borg Institute. 2016 - 10 - 06. Retrieved 2017 - 02 - 15. Jump up ^ `` P&I Best Places to Work 2015 ''. Pensions and Investments. 2015 - 12 - 14. Retrieved 2017 - 02 - 23. Jump up ^ `` Best Employers for Healthy Lifestyles ''. National Business Group on Health. 2015 - 06 - 17. Retrieved 2017 - 02 - 20. Jump up ^ `` T. Rowe Price Board of Directors ''. T. Rowe Price. Retrieved 2017 - 02 - 15. Jump up ^ `` Traveling With Baltimore Philanthropist Eddie Brown ''. Baltimore Sun. 2015 - 08 - 28. Retrieved 2017 - 02 - 20. Jump up ^ `` Goldman Sachs Says Abby Cohen to Stop Making S&P 500 Forecasts ''. Bloomberg News. March 17, 2008. Jump up ^ `` Rock Stars of Tech ''. Portfolio.com. December 16, 2007. Retrieved 2009 - 09 - 25. Jump up ^ `` Twitter Lures In An Unusual Backer ''. Wall Street Journal. September 25, 2009. Archived from the original on September 28, 2009. Retrieved 2009 - 09 - 25. Jump up ^ `` T. Rowe Executive Miller Tapped for U.S. Treasury Post ''. Baltimore Business Journal. 2009 - 10 - 05. Retrieved 2017 - 02 - 20. Jump up ^ `` Alfred Sommer Biography ''. 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Question: who is the ceo of t rowe price
Answer: William Stromberg