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T. Rowe Price To Close Tampa Operations Center In June 2019; Client Digital Preferences, Firm's Technology Enhancements And Operational Efficiencies Lead To Site Consolidation
The decision was made after careful consideration and responds to a growing client preference to engage digitally and the success the firm's digital transformation and technology innovations are having in enhancing online and mobile experiences and generating operational efficiencies.
Currently, about 400 associates work in the
"This strategic business decision was difficult because of the significant impact it will have on our
"While our balance sheet has never been stronger and demand for our approach to active management remains robust, we also need to thoughtfully manage our resources in an increasingly competitive environment. Enhancing our operational efficiency so that we can continue investing in our strategic priorities will enable us to further improve the client experience and grow the business for years to come."
"Our individual investor and retirement plan services businesses continue to do well, and we are making this change from a position of strength. Our commitment to providing high-quality service and innovative experiences to our clients has never been stronger and our associates remain critical to meeting those needs. However, as we adapt to changes in investor preferences and accelerate our digital transformation efforts, we have the opportunity to simplify our operating model and are confident that in doing so we will continue to effectively serve our clients."
Founded in 1937,
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Public Relations: Brian Lewbart, 410-345-2242, firstname.lastname@example.org; Investor Relations, Teresa Whitaker, 410-345-6586, email@example.com