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By Katie Rushkewicz Reichart, CFA and Christine Benz | 12-03-2015 02:00 PM

Leadership Changes Don't Derail T. Rowe

Thanks to thoughtful manager transitions, the firm's corporate culture remains stable. Plus, we recap T. Rowe fund upgrades and downgrades in 2015.

Christine Benz: Hi, I'm Christine Benz for Despite some changes in fund management and executive leadership, Morningstar continues to rate T. Rowe Price highly. Joining me to provide a recap of the past year at T. Rowe Price is Katie Reichart. She is a senior analyst with Morningstar.

Katie, thank you so much for being here.

Katie Reichart: Thanks for having me.

Benz: Katie, you've covered T. Rowe Price for a long time, and you've observed some manager changes over the past few years and some executive leadership changes. Let's start by giving a recap of some of the recent ones, including a change at the CEO level.

Reichart: James Kennedy is stepping down at year-end, and it's been a well-telegraphed change. His successor, Bill Stromberg, joined as an analyst years ago and has really worked his way up through the investment ranks. So, I think he is really well suited to take over at this point.

Benz: And in terms of the fixed-income management team, there were also some changes there in 2015.

Reichart: Yes. Earlier in 2015, Mike Gitlin departed for Capital Group, and that was more unexpected. Luckily, T. Rowe had Ted Wiese step in, and he is a 30-year veteran. So, again there, you still see a level of consistency in the upper ranks.

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