The chief executive of Baltimore money manager T. Rowe Price Group received about $4.7 million in compensation last year, a 17 percent drop from 2008.

James A.C. Kennedy's $350,000 salary remained the same, but the value of his option awards and non-equity incentive plan compensation slumped. That comes on top of a decrease in 2008, a terrible year for financial companies.

Kennedy's 2007 compensation was $7.9 million.

Brian C. Rogers, chairman and chief investment officer, took a 29 percent cut last year, to $4.7 million. And Edward C. Bernard, vice chairman and president of T. Rowe Price Investment Services, received $4.4 million last year, a 20 percent reduction.