Press release
ANDREW (ANDY) MCCORMICK TO RETIRE FROM T. ROWE PRICE
Firm Veteran Arif Husain Named as Successor and New Head of Global Fixed Income BALTIMORE, Feb. 9, 2023 /PRNewswire/ -- T. Rowe Price, Inc. (NASDAQ-GS: TROW),
About this update from T. Rowe Price Group, Inc.
[{"type":"text","content":"Firm Veteran Arif Husain Named as Successor and New Head of Global Fixed Income\nBALTIMORE, Feb. 9, 2023 /PRNewswire/ -- T. Rowe Price, Inc. (NASDAQ-GS: TROW), announced today that Andrew (Andy) McCormick, head of the firm's Global Fixed Income division and one of the firm's chief investment officers (CIOs), plans to retire at the end of 2023. McCormick, who also serves as chair of T. Rowe Price's Fixed Income Steering Committee (FISC) and as a member of the firm's Management Committee, will be succeeded by Arif Husain, who is also one of the firm's CIOs and is currently head of International Fixed Income and a portfolio manager.\nMcCormick joined T. Rowe Price in 2008 after beginning his investment career in 1983. He was a longtime portfolio manager specializing in Government National Mortgage Association (GNMA) securities before being chosen to head Global Fixed Income in 2019.\n\"Andy has been an invaluable member of our senior leadership team and a champion of our collaborative culture,\" said Rob Sharps, CEO and president. \"I have appreciated Andy's sharp intellect, candor, and focus on delivering value for our clients. These are tenets I know we can expect from Arif as he transitions into his new role. I'm confident in Arif's strong leadership abilities, skilled investment expertise, and client-focused approach.\"\nA 28-year investment industry veteran, Husain will step into his new position on January 1, 2024. At that time, he will assume McCormick's position on T. Rowe Price's Management Committee and leadership of the FISC. Husain, who is based in London, will retain his role as CIO.\nHusain currently serves as head of International Fixed Income and lead portfolio manager for the Dynamic Global Bond and Global Government Bond High Quality Strategies. He also serves as a co-portfolio manager for the Global Government Bond, Global Government Bond ex-Japan, Global Aggregate Bond, and International Bond Strategies.\nFollowing its typical robust succession planning process, T. Rowe Price has outlined a thoughtful transition for strategies currently led by Husain. Beginning February 28, 2023, Quentin Fitzsimmons and Scott Solomon will join Husain as co-portfolio managers of the Dynamic Global Bond Strategy; Husain will transition off of this strategy on December 31, 2023. Additionally, on February 28, 2023, Fitzsimmons will ...