Money Management

T. Rowe Price bolsters multiasset solutions team

T. Rowe Price Group named two regional heads for its multiasset solutions unit on Tuesday.

Lowell Yura was named head of multiasset solutions for North America and Yoram Lustig was named head of multiasset solutions for Europe, the Middle East and Africa. Both positions are new.

Messrs. Yura and Lustig started last month and are leading the "development of customized investment solutions in partnership with our distribution colleagues within their respective regions for a wide range of investor types," said Peter Austin, head of multiasset solutions and a member of T. Rowe Price's asset allocation investment team. Messrs. Yura and Lustig report to Mr. Austin.

Previously, Mr. Yura was managing director and head of multiasset solutions for BMO Global Asset Management, and Mr. Lustig was head of multiasset investments UK for AXA Investment Managers. A BMO spokesman and AXA spokeswoman could not immediately be reached for information on their replacements.

T. Rowe Price's multiasset solutions unit is part of it asset allocation division, which had more than $250 billion in assets under management as of March 31.