T Rowe puts Penrose on pensions brief

Investment house T Rowe Price is targeting the European and UK pension fund sector and has brought in Penrose Financial to provide comms support.

The move ends Gavin Anderson's five-year tenure,  only a month after T Rowe international PR head James McDonald said he would not review the relationship.

McDonald, who in January moved to T Rowe from Citigate Dewe Rogerson, said 'it was time for a change', adding that he remained on 'good terms' with GA.

The former CDR head of investment said in January that T Rowe was interested in Canada and the Baltic states, and might seek external PR support to promote new product lines. T Rowe manages £155bn for institutional and private investors.

In Q3 last year, T Rowe spent  £25.5m on promotion, according to Nielsen Monitor-Plus, compared with Fidelity Investments' £23.9m.
Fund managers have increased their promotional spend in recent years as equity markets recover.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in