T. Rowe Expands Australian Footprint

July 26, 2010 (PLANSPONSOR.com) - T. Rowe Price is adding equity investment management and research capabilities “down under”. 

According to an announcement, the asset management firm is adding resources in its Sydney office – where T. Rowe Price has been operating an institutional sales and client service office since 2004 – to enhance local coverage of Australian equities. The firm has hired Randal Jenneke, an Australian investments industry veteran, to oversee and build its local Australian equity team in the coming months with the hiring of additional analysts.

Jenneke, with 17 years of finance and investment experience, joins T. Rowe Price from Schroder Investment Management, firm he joined in 2001. Most recently he was a senior portfolio manager for domestic Australian portfolios and, before that, served as Schroders’ head of research for Australian equities. He is an economics graduate from Macquarie University and earned a graduate diploma in Applied Finance and Investment from the Securities Institute of Australia.

T. Rowe Price says that the local investment presence will “deepen and extend T. Rowe Price’s coverage of Australian equities, which represent an important component of global and international portfolios”.  Additionally, the firm says that the local investment capability, combined with the firm’s global investment platform will enable it to launch a differentiated Australian strategy for local and regional investors, “bringing a global perspective to the management of domestic Australian equity portfolios”.

“T. Rowe Price has long identified Australia as an important strategic market for the firm.  We currently have a strong distribution team in Sydney that offers our global investment expertise to Australian and New Zealand investors.  Now is the right time to extend our investment presence to enhance and leverage the T. Rowe Price global research platform locally,” said Chris Alderson, chief executive officer of T. Rowe Price International. 

In addition to the Sydney office, the firm has investment and research offices in Baltimore, London, Buenos Aires, Hong Kong, Singapore, and Tokyo and serves clients in 35 countries.