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T. Rowe Price senior portfolio manager relocates Down Under

By Jessica Penny
2 minute read

The global asset manager is making an investment team reshuffle to strengthen local client relationships.

T. Rowe Price has announced the relocation of senior multi-asset portfolio manager Richard Coghlan from Tokyo to Sydney in a bid to increase engagement with Australian clients.

Mr Coghlan will be based in Sydney from 1 January 2024.

His current responsibilities include being a senior member of T. Rowe Price’s multi-asset steering committee, overseeing the firm’s multi-asset global investment strategies team, and being a portfolio manager for the real assets strategy and multi-asset global income strategy.

According to the firm, Mr Coghlan’s background in global investment solutions and retirement investment will help facilitate relationships with local clients in these areas.

Darren Hall, head of distribution for Australia and New Zealand, welcomed the addition of Mr Coghlan to the investment team.

“This move will enable the global multi-asset division to increase coverage in Australia, which has been identified as a focus market in T. Rowe Price’s global growth strategy,” Mr Hall said.

“Richard will help us expand our solutions offering, including working toward the development of Australian retirement capabilities, especially around target date solutions.

“He will also provide broad market views to institutional investors to deepen our partnerships and grow our business. We are excited about the opportunities this move will bring to the firm and the Australian market,” he added.

T. Rowe Price’s multi-asset division manages over US$440 billion ($667 billion) in multi-asset portfolios for retail and institutional clients, as at 30 September 2023.

Its target date retirement strategies seek to provide investors with a diversified portfolio that can carry an investor to and through retirement.

“Target date solutions have become important retirement investment vehicles for many individual investors and for a growing majority of those participating in defined contribution plans,” the firm has noted.