T. Rowe Price will open a technology development center in New York, said spokesman Brian Lewbart.
“We are staffing the technology development center with technical architects, data scientists, quantitative software engineers and software java/spring developers,” said Mr. Lewbart in an email.
Mr. Lewbart added: “Their work will support efforts to use technology to augment our proven investment capabilities and enhance client experiences.”
The office will house about 50 to 60 staff members. T. Rowe Price is running a technology development center in a temporary office in New York’s financial district; officials anticipate moving into the new office on Park Avenue South by this fall.