T. Rowe Price to double size of Colorado Springs Investment Services Center
T. Rowe Price currently employs more than 500 people in Colorado Springs. At complete build-out the 31-acre site has the potential to accommodate four buildings and approximately 2,000 associates. Since it first opened a Colorado Springs office in November 1998, the firm has grown from less than $150 billion in assets under management to $292.9 billion as of March 31, 2006.
“The expansion of the Colorado Springs Investment Services Center reflects the substantial growth of the firm in recent years, and will enhance our ability to provide world class service to the millions of individual investors and retirement plan participants who invest with T. Rowe Price,” said Edward C. Bernard, chairman of T. Rowe Price Investment Services. “We have always planned to expand in Colorado Springs, and doubling our space now will enable us to accommodate the continued growth of the business that we expect to see in the coming years.”
“Colorado Springs has been a great location for us and we have been very pleased with the support of the community and the caliber of employees we have been able to attract and retain,” said Chris Hufman, vice president of T. Rowe Price Services and general manager of the Colorado Springs Investment Services Center. “Factors such as the labor market and quality of life that were instrumental in our initial decision to locate in Colorado Springs continue to be in place today and have made it easier to find associates who are a strong fit with our culture and thrive in a service-oriented environment that puts the interests of clients first.”
“This is excellent news for Colorado Springs,” commented Mike Kazmierski, president and CEO of The Greater Colorado Springs Economic Development Corporation. “We assisted T. Rowe Price when the company first came to the area in 1998 so it is gratifying to know that our quality workforce and community support has contributed to this decision to expand. T. Rowe Price has been an outstanding employer and corporate citizen and we thank T. Rowe Price for this renewed commitment to Colorado Springs.”
Employees in Colorado Springs include shareholder service representatives who manage accounts for and provide investment guidance to individual investors, service associates who handle transactions for and take calls from retirement plan participants, information technology professionals, 401(k) plan administrators, and related support staff. Individuals interested in employment can view available job openings at www.troweprice.com/careers.
T. Rowe Price’s Colorado Springs facility complements similar operations centers in Owings Mills, Md. and Tampa, Fla., giving the firm substantial flexibility in servicing investors throughout the United States, as well as enhanced capability to serve the investment and administrative needs of the firm’s shareholders and clients located in the western states.
Founded in 1937, Baltimore-based T. Rowe Price (Nasdaq: TROW) is a global investment management firm that provides a broad array of mutual funds, sub-advisory services, and separate account management for individual and institutional investors, financial intermediaries, and retirement plans. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research. More information is available at www.troweprice.com.