T. Rowe Price CIO McCormick to retire at end of 2023

T. Rowe Price announced that Andrew McCormick, head of the firm’s Global Fixed Income division and one of the firm’s chief investment officers, plans to retire at the end of 2023. McCormick, who also serves as chair of T. Rowe Price’s Fixed Income Steering Committee and as a member of the firm’s Management Committee, will be succeeded by Arif Husain, who is also one of the firm’s CIOs and is currently head of International Fixed Income and a portfolio manager. McCormick joined T. Rowe Price in 2008 after beginning his investment career in 1983. "Andy has been an invaluable member of our senior leadership team and a champion of our collaborative culture," said Rob Sharps, CEO and president. "I have appreciated Andy’s sharp intellect, candor, and focus on delivering value for our clients. These are tenets I know we can expect from Arif as he transitions into his new role. I’m confident in Arif’s strong leadership abilities, skilled investment expertise, and client-focused approach."