T. Rowe Price recruited two people to join its institutional defined contribution investment-only business in the U.S., spokeswoman Lara Naylor said.
Lorie Latham was named a senior defined contribution strategist, while Michael L. Davis was named head of DC plan specialists for T. Rowe Price’s institutional business.
Both positions are new. Ms. Latham will consult with key institutional relationships on a range of strategy and policy matters and serve as a subject matter expert on large-market DC issues. Mr. Davis will lead the team responsible for expanding the firm’s reach and strategic engagement capabilities in the U.S. institutional DCIO marketplace.
Ms. Latham and Mr. Davis will be based in Baltimore and report to Keith Lewis, head of global investment services, Americas for T. Rowe Price.
Ms. Latham was a director and DC strategy leader at Willis Towers Watson, while Mr. Davis was director of institutional client relations at Calvert Investments. Willis Towers Watson spokesman Ed Emerman said the firm is not looking to directly replace Ms. Latham but has been adding to its DC business. Mr. Davis was replaced by Alexandra Ergon, client executive, institutional client relationships, Calvert spokesman Gregory Marose said.
T. Rowe Price had $776.6 billion in assets under management as of June 30.