Craig Hurt will join T. Rowe Price Group in Sydney on Oct. 5 as head of institutional for Australia and New Zealand.
Mr. Hurt replaces David Frazer in that role. In March, Mr. Frazer took on a new role as relationship manager, "managing and growing our existing institutional client base" while building the firm's business in fixed income, a spokeswoman for the firm said.
Mr. Frazer will report to Mr. Hurt, who will report to Darren Hall, T. Rowe's head of distribution for Australia and New Zealand.
Mr. Hurt comes to T. Rowe from AXA Investment Managers, where he served since 2007 as that firm's country head of Australia and New Zealand, according to a news release.
AXA Investment's head of Australia and New Zealand role has transitioned to Michelle Lacey, the firm's head of client group core, Australia, said a spokesman for AXA Investment Managers.
T. Rowe currently manages roughly A$22 billion for clients based in Australia, the spokeswoman for the firm said.