Christopher Alderson, head of international equity and co-head of global equity at T. Rowe Price Group, will retire at the end of the year, spokesman Bill Weeks said.
Mr. Alderson, who is also a member of the management committee, has been with the firm since 1988.
Justin Thomson, chief investment officer, international equity, and lead portfolio manager of T. Rowe Price’s international small-cap equity strategy, will succeed Mr. Alderson as head of international equity on Jan. 1, 2021.
He will report to Robert Sharps, head of investments, and also join the money manager’s management committee. A decision regarding Mr. Alderson’s role as co-head of global equity, which he shares with Eric Veiel, will come later this year, Mr. Weeks said.
Benjamin Griffiths, portfolio manager for T. Rowe Price’s European smaller companies strategy, will become co-portfolio manager of the international small-cap equity strategy effective March 1 and take on the lead role upon Mr. Thomson’s ascension next year to head of international equity.
All are vice presidents with T. Rowe Price Group.
T. Rowe Price Group had $1.21 trillion in assets under management as of Dec. 31.