Todd Ruppert, head of T. Rowe Price’s global institutional business, is to retire from the US fund management firm and focus on his philanthropic interests.
Ruppert’s retirement is effective from June 30 and follows a 27-year career with the company, where he was head of T. Rowe Price’s global investment services organisation.
Within this role, Ruppert has serviced the company’s relationships with institutional clients and consultants worldwide, as well as financial intermediaries outside of the US.
T. Rowe Price has offices in 13 countries and clients in 35 countries. At December 31, 2011, the company sourced 11% of its $489.5 billion (€373.3 billion) of assets under management from outside the US.
Ruppert’s philanthropy covers the arts, youth programmes and education.
Among these activities, Ruppert helped establish the Young Americans’ Challenge of the Duke of Edinburgh’s Award. Additionally, he recently became US president of the Board of the Royal Parks Foundation of London.
Keith W Lewis and Flemming Madsen, head of sales and client relationships for North America and Asia-Pacific respectively, will take on Ruppert’s role on an interim basis.
A global search is to be conducted to find a successor.
©2012 funds europe
