T. ROWE PRICE ANNOUNCES STRATEGIC ENHANCEMENTS TO U.S. INSTITUTIONAL BUSINESS

New client support model designed to better serve clients, foster deeper partnerships, and drive long-term growth

BALTIMORE, June 22, 2026 /PRNewswire/ -- T. Rowe Price, a global asset management firm and a leader in retirement, announced a series of strategic enhancements to its institutional business model in the U.S. These changes reflect the evolving needs of the institutional marketplace, where greater emphasis is placed on strategic partnerships, enabling deeper client engagements, and facilitating closer collaboration with consultants who increasingly influence allocation decisions.

Recognizing the evolving marketplace dynamics and T. Rowe Price's long-tenured history of providing service alpha to U.S. institutional clients, the firm's Institutional Americas business has actively adapted its operating model to meet these needs. The model is designed to strengthen support for strategic client and consultant relationships through coordinated delivery of investment insights, portfolio context, and enterprise capabilities. It is also intended to enhance operational coordination, governance, and servicing scalability for increasingly complex institutional relationships.

Key structural changes include:

• Defining a holistic model for strategic institutional relationships and moving away from separate sales and service roles. Each U.S. region—Northeast, Southeast, Central, and West—will operate as an integrated team under a single leader, delivering a consistent, client-centric experience.
  
  
• Launch of a dedicated four-person national field consultant coverage team that is solely focused on delivering industry-leading support to key field consultants across the U.S. This extension will provide field consultants with a more consistent point of contact, better insights and portfolio updates, and strengthen coordination of shared relationships through a more focused, proactive approach.
  
  
• Creation of a U.S. Institutional key accounts practice, which will focus on the business' most strategic relationships, setting new standards for client management, risk and growth planning, and enterprise connectivity.

"T. Rowe Price's new institutional operating model is a testament to our adaptability as preferences diverge across geographies and markets, directly supporting our corporate strategy of being an outcome-oriented solutions provider," said Chris Newman, Head of Americas Distribution. "These enhancements are built to provide world class service through a total portfolio approach to relationship management."

The firm's U.S. Institutional business has implemented several leadership changes to support this regionally empowered, outcome-driven evolution.

Kyle Lagratta, Associate Head, Institutional Business Development, and Chris Tarui, Head, Global Institutional Alternatives Distribution, U.S. Consultant Relations, and OCIO, will co-head relationship management. Tarui will continue to lead U.S. Consultant Relations, and Lagratta will oversee defined contribution relationship managers. Tarui's investment experience began in 2004, and he has been with T. Rowe Price since 2021. Lagratta's industry experience began in 2008, and he joined T. Rowe Price in 2014. Both Tarui and Lagratta will report to Doug Greenstein, Head of U.S. Institutional.

Frank Clarkson will take on the Lead Field Consultant Relationship Manager role in the Central region, Lawson Hauptfuhrer in the Southeast, and Abby Groom on the West Coast. Clarkson has been with T. Rowe Price since 2007, beginning in the U.S. Intermediaries division; Hauptfuhrer has been with T. Rowe Price since 2016, beginning in the Institutional Sales Group; and Groom has been with T. Rowe Price since 2011, beginning in the Special Correspondence Group.

Angelique Richardson joins T. Rowe Price as Field Consultant Relationship Manager for the Northeast region. She brings nearly 20 years of industry experience, most recently spending 15 years at Wellington Management as a Managing Director and Relationship Manager, working with consultants and institutional clients.

Kim Young, Senior Relationship Manager, Key Accounts, will lead the new key accounts practice, reporting to Doug Greenstein. Young's industry experience began in 1996, and she has been with T. Rowe Price since 1998, beginning in the Equity Research Group.

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 $1.89 trillion in assets under management as of May 31, 2026, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

SOURCE T. Rowe Price Group