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Fund Times: T. Rowe Manager Brian Rogers to Lead Firm

Plus, Bear Stearns' market-timing settlement, missteps at Merrill Lynch, and more.

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T. Rowe Price announced today that  T. Rowe Price Equity-Income (PRFDX) manager Brian Rogers will replace George Roche as chairman when Roche retires in late 2006. However, Rogers will also continue in his roles as chief investment officer, and manager of the hugely successful large-value offering, which he has run since 1985.

James Kennedy, currently the director of equities at T. Rowe Price, will become president and CEO of the firm upon Roche's retirement. Roche will leave T. Rowe Price after a 38-year career that included responsibilities as manager of  T. Rowe Price New Era (PRNEX) (1979-1997), chief financial officer (1984-1997), and, since 1997, chairman and president.

Lawrence Jones does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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