ROBERT HIGGINBOTHAM TO RETIRE FROM T. ROWE PRICE

Dee Sawyer Named as Successor and New Head of Global Distribution

BALTIMORE, June 27, 2023 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ: TROW), announced today that Robert Higginbotham, head of Global Distribution and Global Product, plans to retire at year-end after 11 years with the firm and 33 years in the industry. Higginbotham, who also serves as chief executive officer (CEO) and chair of T. Rowe Price International, as a member of the firm's Management Committee and its subcommittees focused on strategy, compensation, and development, will be succeeded by Management Committee member Dee Sawyer. 

Effective January 1, 2024, Sawyer will be named the new head of Global Distribution, leading the teams responsible for sales, marketing, and client service globally across all distribution channels and will assume Higginbotham's responsibilities on the firm's subcommittees. Scott Keller, head of Americas, APAC, and EMEA Distribution, will serve as the new CEO and chair of T. Rowe Price International Ltd., and will report to Sawyer, while continuing in his current role. The Global Product organization will report to Jen Dardis, the firm's chief financial officer.

"Robert has been an inspiring leader within our firm. His vision and dedication to client service, coupled with his advocacy for diversity and inclusion, will leave an indelible mark for years to come," said Rob Sharps, CEO and president, T. Rowe Price Group, Inc. "Dee is exceedingly well suited for this role. I am confident that she will be a strong and impactful leader of our Global Distribution business."

Higginbotham joined the firm in 2012 and led growth for the firm's businesses globally. He created the firm's Women in Sales initiative, designed to attract, retain, and develop women at the firm. Additionally, he serves as the executive sponsor of the firm's LGBTQ+ business resource group, PRIDE.

Sawyer joined the firm in 2011. During her tenure, she served as a senior leader across multiple business units, including Corporate Marketing, Individual Investors, and Human Resources. She currently leads the U.S. Intermediaries business channel, as well as Retirement Plan Services, and she serves on the firm's Product and Investment Management Steering Committee and as chair of the Board for T. Rowe Price Investment Services, Inc. Sawyer serves as chair of the firm's Retirement Leadership Council Steering Committee and as executive sponsor of MOSAIC, the firm's business resource group for African, Asian, and Latinx heritage.

Before joining T. Rowe Price, Sawyer held various senior leadership roles at Bank of America/Merrill Lynch and Fidelity Investments. She began her financial services career at Fifth Third Bank as a fixed income portfolio manager in the Trust and Investment Services Division.

ABOUT T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages USD$1.35 trillion in assets under management as of May 31, 2023 and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, Twitter, YouTube, and troweprice.com/newsroom.

SOURCE T. Rowe Price Group, Inc.