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Fund Times

Manager Departs T. Rowe Price Analyst Pick

Plus, new funds from American and Aston, and more.

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Jeff Arricale, who had managed Analyst Pick  T. Rowe Price Financial Services (PRISX) since March 2007, resigned Nov. 11. Eric Veiel was named to replace him. Veiel has served on the fund's Investment Advisory Committee for nearly five years, and as an analyst he covers life insurance, asset managers, and brokerage firms. Although he's run a sleeve of the analyst-driven fund  T. Rowe Price Capital Opportunity (PRCOX) since 2006, this will be his first outing as sole manager.

Arricale's diversified approach to the financials sector has been effective, and the fund has topped 70% of peers over the past three years. His departure is a loss from both a stock-picking and research perspective, and as a result the fund has been removed from the picks list. To see all of our Analyst Picks, click here.

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