T. Rowe Price to lose another money manager

Timothy E. Parker, manager of T. Rowe Price's New Era Fund for the past three years, will leave the the Baltimore-based money manager by the end of September, the company said.

Parker will be replaced as manager by Shawn T. Driscoll, an energy analyst with the fund.

"I had a wonderful 12 years here and learned a lot of things," said Parker, 38. "It's a good organization. Sometimes you need to part ways to pursue different challenges."

Parker said he doesn't have any firm plans at this point. Although, he added, if he remains in the industry, it would be at a smaller operation .

Parker will be the second Price money manager this year to leave the firm, which doesn't see much turnover. Kris H. Jenner led the Health Sciences Fund until his sudden resignation in February, taking with him two of the fund's key analysts. Jenner plans to launch a hedge fund in Baltimore that uses the same investment strategy of his old Price fund.

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