citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . july 2013 learn how and when to remove this template message t. rowe price group inc. type public traded as nasdaq trow s & p 500 component industry investment management founded 1937 headquarters 100 east pratt street baltimore maryland usa key people william stromberg president and ceo brian c. rogers chairman chief investment officer and portfolio manager edward c. bernard vice chairman ; president t. rowe price investment services ted wiese head of fixed income robert higginbotham director of global equity and global equity research christopher d. alderson president of international equity john d. linehan head of u.s. equity products investment management mutual funds subadvisory services retirement planning revenue 3.48 billion usd 2013 net income 1.05 billion usd 2013 aum 738.4 billion usd june 30 2014 number of employees 4200 december 31 2012 website www.troweprice.com t. rowe price is an american publicly owned investment firm headquartered in baltimore maryland . it was founded in 1937 by thomas rowe price jr. . the company offers mutual funds subadvisory services and separate account management for individuals institutions retirement plans and financial intermediaries . additionally the organization offers investment planning and guidance tools . the company s founder may be best known for developing the growth stock philosophy of investing 1 emphasizing companies whose earnings and dividends could be expected to grow faster than inflation and the overall economy . instead of charging a commission as others in the business did at the time price charged a fee based on the assets under management . contents 1 corporate affairs 1.1 business 1.2 offices 2 history 2.1 20th century 2.2 21st century 3 conflicts 4 notable people 5 references 6 external links corporate affairs edit business edit in 2015 there were more than 5 800 associates employed worldwide by t. rowe price . 2 investors outside the u.s. now account for more than 12 % of assets under management . the company has more than 28 domestic stock funds 28 bond funds 18 international funds 20 asset allocation funds and six money market funds . offices edit t. rowe price is headquartered in baltimore maryland the city in which it was founded in 1937 and occupies the historic 100 east pratt street building in baltimore s inner harbor . 3 other domestic offices are located in owings mills maryland tampa florida colorado springs colorado san francisco california and long beach california . the firm maintains walk in investor centers adjoining its baltimore owings mills colorado and tampa offices as well as in washington d.c. and tysons corner virginia . t. rowe price has additional offices around the world in north and south america toronto and buenos aires europe london copenhagen amsterdam zurich and luxembourg asia hong kong tokyo taiwan singapore and dubai and australia sydney . history edit 20th century edit in 1937 t. rowe price was established . 4 in 1950 the firm launched the first mutual fund t. rowe price growth stock fund . in 1951 the company introduced the first institutional client account . in 1960 they expanded into u.s. small cap equity investments beginning an industry trend toward specialized mutual fund management . in 1969 new era fund launched a mutual fund that invests in natural resources . in 1971 george collins was hired to develop the fixed income management division . in 1974 the firm introduced the first retirement accounts in the u.s. in 1979 the firm partnered with u.k. based robert fleming & co. and expanded international investments to u.s. clients . in 1986 initial public offering . in 1987 the firm established a research office in hong kong soon followed by offices in buenos aires and singapore . in 1994 the firm partnered with third parties to deliver products and services to a wider audience . in 2000 the firm acquired complete ownership of rowe price fleming international to form the new entity t. rowe price international inc. from 1982 to 1991 roger mcnamee worked at the company first as an analyst and eventually promoted to run the science & technology fund . under mcnamee s leadership the fund returned about 17 % annually to investors 5 and in a move atypical for mutual funds he made venture capital investments in electronic arts which went public in 1989 and sybase which had its ipo in 1991 . 6 21st century edit in 2001 the company launched t. rowe price funds sicav domiciled in luxembourg for non u.s. institutional investors and financial intermediaries . two years later it created target date retirement funds . in 2004 it established an office in amsterdam and sydney . in early 2008 t. rowe price announced the addition of two new buildings located in owings mills maryland near their headquarters . in april 2009 the firm announced that due to economic conditions the completion of the buildings would be delayed until later in 2010 . in addition the firm laid off 288 employees or about 5.5 % of their labor force . 7 as of june 30 2011 t. rowe price had 520.9 billion in assets under management globally . it was recognized as one of businessweek s customer service champs . 8 in september 2009 twitter disclosed it had received 100 million in funding from several investors including t. rowe price which valued the company at one billion dollars . 6 according to dow jones venturesource the twitter investment was the eighth time since 2005 that the company has invested in venture capital backed firms and only the second time the other being slide.com that t. rowe price had invested in a purely internet related company . 6 in may 2015 t. rowe price announced that james a.c. kennedy will step down from his position as ceo at the end of the year and will retire from the firm in april 2016 . william j. stromberg the current head of global equity and global equity research will succeed james on january 1 2016 . 9 conflicts edit in 2008 t. rowe price retirement plan services alerted and informed 35 000 clients that their names and social security numbers were compromised in files on computers that were stolen from one of their service providers . however to deal with the crisis the company offered those affected a free one year subscription to an online credit monitoring service and up to 25 000 of identity theft insurance as well as tips on protection from identity theft . notable people edit mary j. miller worked at t. rowe price for nearly thirty years during which time she became the first woman on the firm s management committee in addition to her role as the director of the firm s fixed income division . miller was chosen to work for the u.s. department of the treasury beginning in 2010 first as assistant secretary of the treasury for financial markets then under secretary of the treasury for domestic finance and finally as the deputy secretary of the treasury . references edit investopedia the greatest investors thomas rowe price jr. 1 087 t rowe price . forbes.com . retrieved 21 march 2016 . t. rowe price raises concerns about downtown safety while weighing headquarters options . retrieved 2016 06 23 . the greatest investors thomas rowe price jr. investopedia . 2003 12 01 . retrieved 2016 06 23 . rock stars of tech . portfolio.com . december 16 2007 . retrieved 2009 09 25 . a b c twitter lures in an unusual backer . the wall street journal . september 25 2009 . archived from the original on september 28 2009 . retrieved 2009 09 25 . 1 wall street journal article . businessweek rankings the 2009 list of customer service champs chen angela . t. rowe price ceo james kennedy to retire . the wall street journal . the wall street journal . retrieved 6 may 2015 . external links edit official retail website james kennedy profile official institutional website the great piggy bank adventure a financial education game from t. rowe price and disney retrieved from https en.wikipedia.org w index.php title t. rowe price & oldid 743279842 categories companies listed on nasdaqinvestment management companies of the united statesmutual fund familiescompanies established in 1937companies based in baltimorecompanies based in marylandfinancial services companies based in marylandmutual funds of the united states1937 establishments in marylandhidden categories articles needing additional references from july 2013all articles needing additional referencespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial 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