T. Rowe's Vieth Announces Retirement

October 18, 2006 (PLANSPONSOR.com) - T. Rowe Price has announced the retirement of Charlie Vieth, president of its Retirement Plan Services (RPS) division.

“I feel like I’m leaving T Rowe on a real high – our business has never been better,” Vieth told PLANSPONSOR . Vieth, who plans to retire by the end of the year, has been head of RPS for the last 14 of his 24 years with the company.

RPS Chairman Edward Bernard said in the announcement, “Charlie was an early and active supporter of retirement savings, and the vision he championed inside T. Rowe Price and as a president of industry associations such as the National Defined Contribution Council and The SPARK Institute, will have a lasting impact on employees who are saving for a financially secure retirement.” During Vieth’s transition, Wayne O’Melia, president of T. Rowe Price Services, will take on day-to-day management responsibilities for RPS, the announcement said.

“The biggest change I’ve seen in the 25 years I’ve been in this business is what is happening right now. The trend towards automated solutions is huge and exactly what the business needs,” Vieth said. “As for me, there is a whole lot of extracurricular stuff I can’t wait to do, most of it in the great outdoors.”