T. Rowe Price boosts insurance focus
T. Rowe Price boosts insurance focus | Insurance Business America
Insurance News
T. Rowe Price boosts insurance focus
“Important new role” created
Insurance News
By
Terry Gangcuangco
Investment management firm T. Rowe Price has promoted Ben Riley (pictured) to the newly created position of insurance head effective at the start of next year.
“Riley will oversee a team responsible for insurance clients in North America, while also coordinating T. Rowe Price’s global insurance efforts,” T. Rowe Price announced. “He will maintain coverage responsibilities for current clients and prospects.”
The elevated leader has been with the company since 2001, joining the Americas institutional client service team in 2007. He took on the role of senior relationship manager in 2017, focusing on sales and service for insurance general account mandates.
In addition, Riley has held positions supporting retirement plan services as well as its fixed-income and multi-asset divisions. Under his expanded remit, a team of relationship managers will report to Riley while he continues to be supervised by Doug Greenstein, head of institutional business development for Americas.
“Ben is perfectly suited to take on this important new role,” Greenstein stated. “His extensive experience and dedication have been instrumental in establishing T. Rowe Price within the insurance sector. Ben is a strong leader, and his appointment will enable us to drive growth and better serve our clients with enhanced focus and expertise.”
The internal hire, meanwhile, pointed to insurance clients’ need for a partner with scale and the ability to provide customized fixed-income solutions.
He noted: “We’ve been doing this successfully for several years. T. Rowe Price’s focus on fundamental, proprietary credit research, coupled with our extensive equity research platform, provides a holistic view of the credits in which we invest.
“This is critically important for insurance mandates, which tend to be lower in turnover and sensitive to impairments. When you combine the resources of T. Rowe Price with our service-oriented culture, and the quality of our credit research platform, it makes us an ideal partner for insurance clients.”
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