Robert Higginbotham, the head of global distribution and global product at T. Rowe Price Group, will retire from his role at the end of the year, according to a news release from the company on Tuesday.
He will be succeeded by Dee Sawyer, effective Jan. 1, 2024. Ms. Sawyer currently serves as the firm's head of U.S. intermediaries and retirement plan services. Ms. Sawyer will also fill Mr. Higginbotham's responsibilities on the firm's subcommittees.
"Robert has been an inspiring leader within our firm. His vision and dedication to client service, coupled with his advocacy for diversity and inclusion, will leave an indelible mark for years to come," Rob Sharps, CEO and president of T. Rowe Price Group, said in a statement. "Dee is exceedingly well suited for this role. I am confident that she will be a strong and impactful leader of our global distribution business."
In her future role as T. Rowe Price Group's head of global distribution, Ms. Sawyer will report to Jen Dardis, the company's CFO.
Ms. Sawyer will not take over Mr. Higginbotham's position as CEO and chair of T. Rowe Price International. Upon Mr. Higginbotham's retirement, that role will be filled by Scott Keller, who will assume Mr. Higginbotham's duties while continuing his current role as head of Americas, Asia-Pacific, and EMEA distribution.
T. Rowe is searching for a new head of U.S. intermediaries. Kevin Collins will take over as the new head of retirement plan services, effective Jan. 1, 2024.
Mr. Higginbotham's retirement comes after 11 years at T. Rowe Price, and a collective 33 years in the financial industry.
T. Rowe Price had $1.35 trillion in assets under management as of May 31.