Defined Contribution

T. Rowe Price Retirement Plan Services appoints head of small-market segment

Mike Shamburger was named head of the small-market segment of T. Rowe Price Retirement Plan Services, the record-keeping unit of T. Rowe Price Group.

The position is new, spokeswoman Nadine Youssef wrote in an email. Mr. Shamburger, who assumed the new role Jan. 2, will continue to be in charge of national sales for the small-market segment, which was his previous job, Ms. Youssef wrote. His new job includes responsibilities for national accounts, product development and delivery, and relationship management, she wrote.

The small-market segment covers plans with less than $25 million in assets. Ms. Youssef declined to provide details about the number of clients, participants and assets in this segment.

Placing the many small-market services under Mr. Shamburger's leadership "will help us better serve the dynamic needs of advisers, consultants, third-party administrators, plans sponsors and plan participants in this part of the retirement plan industry,"said Aimee DeCamillo, head of T. Rowe Price Retirement Plan Services, in a prepared statement.