T. Rowe Adds Regional Heads For Multi-Asset Solutions Business

BALTIMORE (June 27, 2017) – T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) today announced that its Asset Allocation division has hired Lowell Yura, CFA, as head of Multi-Asset Solutions for North America and Yoram Lustig, CFA, as head of Multi-Asset Solutions for Europe, Middle East, and Africa (EMEA). The hiring of Mr. Yura and Mr. Lustig underscores T. Rowe Price’s strategic commitment to the expansion of its multi-asset solutions business globally and the company’s ability to serve its clients in this growing area. Mr. Yura is based in Baltimore and Mr. Lustig is based in London. Both report to Peter Austin, head of Multi-Asset Solutions and a member of T. Rowe Price’s Asset Allocation investment team.

T. Rowe Price’s Multi-Asset Solutions group engages clients and prospects across the globe in consultative discussions to identify how the firm can best meet their investment objectives through the firm’s broad equity, fixed income and asset allocation investment capabilities.

Mr. Yura was most recently managing director and head of Multi-Asset Solutions for BMO Global Asset Management in Chicago. Prior to BMO, he was managing director, and head strategist, Americas and UK, for Global Investment Solutions at UBS Global Asset Management. Earlier in his career, Mr. Yura was a consulting actuary at Towers Perrin and investment consultant at Mercer. He has extensive experience in the design and management of investment solutions across a range of markets. His background includes responsibility for global balanced, global tactical asset allocation, liquid alternative, and overlay strategies, for U.S. mutual funds and separate accounts.  He also had oversight of investment strategy committees. Mr. Yura holds an undergraduate degree from the University of Illinois and an M.B.A. from the University of Chicago.

Mr. Lustig was most recently head of Multi-Asset Investments UK for AXA Investment Managers in London. Prior to his time at AXA, he was head of Multi-Asset Funds for Aviva Investors in London. Earlier in his career, Mr. Lustig was head of Portfolio Construction – EMEA at Merrill Lynch. He has extensive experience in the design of investment solutions, including absolute return, inflation-plus, risk managed and environmental, social and governance (ESG) strategies. In addition, all three of his prior roles included responsibility for managing multi-asset strategies, including dynamic asset allocation and investment selection. A published author, Mr. Lustig holds a law degree from Tel Aviv University and an M.B.A. from London Business School. He is also a licensed lawyer.

QUOTES

 Peter Austin, head of Multi-Asset Solutions:

“Global institutional investors are increasingly framing their investment objectives in the form of an outcome, not a benchmark return. This has led to the growth in customized multi-asset strategies. These strategies draw from a wide opportunity set of investments, and provide investors a better opportunity to achieve their outcomes in a consistent fashion.”

Sebastien Page, head of Asset Allocation:

“Growing our multi-asset solutions business is a strategic priority. Lowell and Yoram are highly experienced professionals who will be great additions to our team as we continue to work with clients globally to provide solutions to diverse investment objectives.”

About T. Rowe Price

T. Rowe Price has over 20 years of experience delivering multi-asset solutions, as represented by the firm’s leadership[i] in target date strategies and over $250 billion[ii] in assets under management as of March 31, 2017.

Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. (troweprice.com) is a global investment management organization with $861.6 billion in assets under management[iii] as of March 31, 2017. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

For more information, visit troweprice.com or our Twitter, YouTube, LinkedIn, and Facebook sites.

[i] T. Rowe Price is the third largest provider of target-date portfolios in the U.S., with $202.6 billion in target date fund assets under management as of March 31, 2017.

[ii] The figures for assets under management mentioned above are combined assets under management of the T. Rowe Price group of companies. The T. Rowe Price group of companies includes T. Rowe Price Associates, Inc. T. Rowe Price International Ltd. T. Rowe Price Hong Kong Limited, T. Rowe Price Singapore Private Ltd., and T. Rowe Price (Canada) Inc.

[iii] The figures for assets under management mentioned above are combined assets under management of the T. Rowe Price group of companies. The T. Rowe Price group of companies includes T. Rowe Price Associates, Inc. T. Rowe Price International Ltd. T. Rowe Price Hong Kong Limited, T. Rowe Price Singapore Private Ltd., and T. Rowe Price (Canada) Inc.