T. Rowe Price Group, Inc. is a financial services holding company providing global investment management services through its subsidiaries. The firm offers a broad range of investment solutions across equity, fixed income, multi-asset, and alternative capabilities. It also provides related administrative services, including distribution, mutual fund transfer agent, accounting, shareholder services, and participant recordkeeping. T. Rowe Price takes an active, independent approach to investing.

• Employees: 7,906 (as of December 31, 2023)
• Geographic Footprint: Operates in 51 countries around the world
• Headquarters: Baltimore, Maryland
• Founded: 1937
• Number of locations/facilities: Offices in 17 markets around the world
• Revenue: $6.46 billion (FY2023)
• Market Capitalization: $24.6 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: T. Rowe Price Associates, T. Rowe Price Investment Management, Oak Hill Advisors, T. Rowe Price International Ltd

• CEO: Robert W. Sharps
• CFO: Jennifer B. Dardis
• Chief Operating Officer: Kimberly H. Johnson
• Board Chair: William J. Stromberg
• Other Key Executives: Glenn R. August (Chief Executive Officer of OHA), Arif Husain (Head of Global Fixed Income), Stephon A. Jackson (Head of T. Rowe Price Investment Management), Josh Nelson (Head of U.S. Equity), David Oestreicher (General Counsel), Sebastien Page (Head of Global Multi-Asset), Dorothy C. Sawyer (Head of Global Distribution), Justin Thomson (Head of International Equity), Eric L. Veiel (Head of Global Investments), Jessica M. Hiebler (Principal Accounting Officer)

Key leaders have extensive experience in the financial services industry.

• Annual Revenue: $6.46 billion (FY2023)
• Net Income: $1.79 billion (FY2023)
• Market Cap: $24.6 billion (as of June 30, 2023)
• Total Assets: $12.28 billion (as of December 31, 2023)
• Employees: 7,906 (as of December 31, 2023)
• Key Financial Highlights: Investment advisory revenues decreased by 3.7% compared to 2022. Operating expenses increased by 8.7% compared to 2022.

T. Rowe Price offers a broad range of investment strategies across various asset classes.

• Equity: Manages a variety of equity strategies including all-cap, large-cap, mid-cap, small-cap, and sector-focused funds.
• Fixed Income: Offers fixed income strategies including short-term bonds, high yield, government, and securitized credit.
• Multi-Asset: Provides multi-asset solutions such as target date funds, global allocation, and managed volatility strategies.
• Alternatives: Manages alternative investments including private credit, leveraged loans, and real assets.

T. Rowe Price operates primarily as one segment: investment advisory services. Revenues are derived from investment advisory fees, capital allocation-based income, and administrative, distribution, and servicing fees.

T. Rowe Price's strategic priorities include sustaining its leadership position in retirement, accessing growth in the U.S. wealth management channel, focusing on global growth, deepening client relationships, broadening its reach in the private and alternatives market, strengthening distribution technology, attracting and retaining top talent, and delivering strong financial results. The firm is focused on delivering strong long-term investment performance and world-class service to clients.

• Key strategic initiatives include investing in resources, products, and marketing in high-opportunity countries, innovating and investing in capabilities to deliver world-class service, and expanding investment capabilities in the private and alternatives market.
• Growth drivers include market appreciation and net cash inflows into target date retirement products.
• Investment priorities include strengthening distribution technology and attracting and retaining top talent.

T. Rowe Price operates in the highly competitive financial services industry, competing with other investment management firms, broker-dealers, mutual fund companies, banks, and insurance companies. The firm faces competition from both active and passive investment strategies. Key market trends include the increasing popularity of passive investments, downward fee pressure, and demand for new investment vehicles.

• Market Position: T. Rowe Price is a major player in the asset management industry, with a significant global presence.
• Key Competitors: Includes other investment management firms, broker-dealers, mutual fund companies, banks, and insurance companies.
• Industry Trends: Increasing popularity of passive investments, downward fee pressure, demand for new investment vehicles, and an ever-changing regulatory landscape.

• Market Risks: Fluctuations in financial markets, changes in interest rates, and geopolitical events can negatively impact assets under management and revenues.
• Operational Risks: Failures in operational processes, dependence on third-party service providers, and cybersecurity threats can disrupt operations and cause financial losses.
• Financial Risks: Exposure to losses on seed capital and co-investments, changes in tax laws, and potential tax liabilities can impact financial results.
• Regulatory Risks: Compliance with extensive federal, state, and foreign laws and regulations can lead to increased costs and potential penalties.
• Competitive Risks: Intense competition from other financial institutions and the increasing popularity of passive investment strategies can lead to a loss of clients and assets.