Eric Veiel was named head of global investments at T. Rowe Price Group, effective Jan. 1, according to an announcement by the firm Nov. 27.
Veiel, who is currently the head of global equity for T. Rowe Price, will take over as head of global investments from Rob Sharps, T. Rowe Price's CEO and president. Sharps will continue as president and CEO.
Veiel will continue to report to Sharps in his newly expanded role.
Sharps said in a news release that the appointment of Veiel will "allow me to dedicate more time to the firm's corporate strategy, our business units, and external relationships."
He added: "We are confident that this new management structure positions us to continue to focus on producing superior long-term investment results for our clients while also sharpening our attention on operating effectively and executing on the firm's corporate strategy."
T. Rowe Price has $1.3 trillion in assets under management and is based in Baltimore.
