Ken Brooks, vice president, institutional business development at T. Rowe Price Group, will retire June 4, spokesman Edward Giltenan said in an email.
Mr. Brooks, who joined T. Rowe Price in the role in 2004, will continue some of his non-profit board activities and otherwise enjoy his retirement with golf, reading and travel, Mr. Giltenan said.
Taking on Mr. Brooks’ responsibilities will be John Masdea, senior institutional business development executive, and Lesley Nettles, senior public funds defined benefit specialist. Both, like Mr. Brooks, are based in San Francisco, Mr. Giltenan said.
Mr. Masdea will cover large institutional investors in the West and Midwest and report to Doug Greenstein, head of institutional business development for Americas.
Ms. Nettles, who will cover the rest of the U.S. and Canada, reports to Kim Young, head of institutional client service for the Americas institutional business.
As of March 31, T. Rowe Price had $1.52 trillion in assets under management.