BALTIMORE, Jan. 4, 2017 /PRNewswire/ --
NEWS
T. Rowe Price Group (NASDAQ-GS: TROW) today announced that
Kenneth V. Moreland,
CPA, its chief financial officer (CFO), will retire in 2017
after 13 years at the firm and nearly 40 years of accounting,
finance, and broad management experience. The firm will begin the
search for a new CFO immediately.
As CFO, Ken oversees the firm's financial operations and
reporting in addition to managing the finance, facilities, investor
relations, and risk management efforts. Following his retirement,
Ken plans to devote his time and talents to his continued board
activities and the community.
Ken's official retirement date has not been determined beyond
being later in 2017 as he will be assisting the firm through the
transition period.
QUOTES
William J. Stromberg, President
and CEO
"Ken is widely appreciated for his intellect, judgment, and
thoughtful leadership style. He has been a valued partner to me and
to Jim Kennedy and George Roche before me. He has been a trusted
steward of our financial operations and reporting, and he deftly
handled an ever broadening set of responsibilities over the years,
including Facilities, Investor Relations, and Risk Management. He
has ably developed and led a broadly respected, high-performing,
and high-integrity Finance team and we are all grateful for his
strong and effective leadership, and his devotion to the firm, our
associates, and our clients."
Kenneth V. Moreland, CFO
"It has been an honor to work for such a premiere investment
management firm – one known for its high standards in client
service and caliber of people across all aspects of the firm.
As the company continues to evolve, I am extremely confident that
it will move forward from a position of financial and talent
strength."
BACKGROUND ON KENNETH V. MORELAND
Prior to joining
T. Rowe Price in March, 2004, Ken
was a senior vice president, chief financial officer and director
with RTKL Associates, Inc., a Baltimore-based international architectural
firm. Prior to that, he was a Client Service Partner for Coopers
& Lybrand. Additionally, he completed a two-year
accounting fellowship with the Securities and Exchange Commission.
Ken earned a B.S. in business administration from Towson University. He is a certified public
accountant and a member of the American Institute of Certified
Public Accountants and the Maryland Association of Certified Public
Accountants. He currently serves on the Boards of Directors of the
Baltimore Development Corporation, University
of Maryland Medical Systems, and Messiah College. He
has also been active on the Owings Mills Corporate Roundtable, and
has served as chair for the past 10 years. Additionally, he has
served on the Boards of Towson
University and the Y of Central
Maryland.
ABOUT T. ROWE
PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc.
(troweprice.com) is a global investment management
organization with $812.9 billion in
assets under management as of September 30,
2016. The organization provides a broad array of mutual
funds, subadvisory services, and separate account management for
individual and institutional investors, retirement plans, and
financial intermediaries. The company also offers sophisticated
investment planning and guidance tools. T.
Rowe Price's disciplined, risk-aware investment approach
focuses on diversification, style consistency, and fundamental
research.
The strategies, products and services mentioned are offered via
subsidiaries of T. Rowe Price Group, Inc. This does not constitute
a distribution, an offer, an invitation, a recommendation, or a
solicitation to sell or buy any securities in any jurisdiction.
T. ROWE PRICE, INVEST WITH
CONFIDENCE, and the Bighorn Sheep design are, collectively and/or
apart, trademarks or registered trademarks of T. Rowe Price Group,
Inc. in the United States,
European Union, and other countries.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/t-rowe-price-chief-financial-officer-kenneth-v-moreland-to-retire-in-2017-300385448.html
SOURCE T. Rowe Price Group