BALTIMORE, Nov. 1, 2016 /PRNewswire/ -- The Board of Directors of T. Rowe Price Group (NASDAQ-GS: TROW) today announced that Brian C. Rogers, chairman and chief investment officer (CIO), will retire on March 31, 2017, after nearly 35 years at the firm. At that time, he will step down from his role as CIO, which he has held since 2004. After his retirement he will continue on the Board of Directors and serve as non-executive chair. In connection with Brian's retirement, the firm has appointed the following six senior investment leaders as CIOs, to be effective at that time: Rob Sharps will be Group CIO, with responsibility for coordinating the activities of the team; Henry Ellenbogen will be CIO, U.S. Equity Growth; David Giroux will be CIO, U.S. Equity Multi-Discipline; John Linehanwill be CIO, U.S. Equity Value; Justin Thomson will be CIO, International Equity; and Mark Vaselkiv will be CIO, Fixed Income. The team will share CIO responsibilities, which include providing investment thought leadership, partnering with investment division leaders to develop investment talent and capabilities, and serving as mentors for the firm's investment professionals. In contrast to some other investment firms, the CIO role at T. Rowe Price does not involve setting a singular investment strategy or a "house view" for portfolio managers to follow. The firm believes that individual managers are best equipped to make investment decisions for their own strategies. Henry, David, John, Justin, and Mark will all maintain their current portfolio management responsibilities. As previously announced, Rob will be stepping down as portfolio manager of the U.S. Large-Cap Growth Equity Strategy as of December 31, 2016. On January 1, 2017, he will become co-head of Global Equity, partnering with Head of International Equity Chris Alderson, and will join the firm's Management Committee. QUOTESAnne Marie Whittemore, Lead Independent Director"It has been T. Rowe Price's great fortune that Brian chose us many years ago to be the place where he would work and dedicate his career. As a portfolio manager, Brian delivered outstanding long-term results to the firm's clients, while as chief investment officer he has had a lasting impact as a leader and mentor to many highly successful T. Rowe Price investors. His reminders to stay the course during extended periods of market volatility and economic turmoil reflected his patience as an investor and his belief in the resilience of the markets and in capitalism itself." "As chair of the Board, Brian has brought his insightful industry perspective to our deliberations, encouraged thoughtful and collegial discussion, and fostered sound corporate governance practices. He has been responsible for helping the firm maintain its strong financial discipline through multiple market cycles, including the global financial crisis, and for guiding the Board's commitment to diversity. As we further our collaboration on strategic corporate issues, my fellow directors and I look forward to his continued leadership and counsel."