T. Rowe Price's earnings were down 4 percent to $303.2 million in the last thee months of the year amid a rocky market but the amount of assets it manages rose by 2 percent, the Baltimore-based money manager reported Thursday.
Baltimore-based money management firm T. Rowe Price reported 2014 earnings of $1.2 billion, up 17 percent over the year before, but the company's president cautioned that investors should temper their expectations for the market this year.
Baltimore money manager T. Rowe Price said Thursday that net income rose nearly 26 percent in the first three months of the year, compared with a year earlier, as revenue from investment advisory fees grew by more than $120 million.
Curran W. "Cub" Harvey Jr., former president of T. Rowe Price Associates Inc. who later was a founder of New Enterprise Associates, a venture capital firm, died Sunday of pneumonia at Naples Community Hospital in Naples, Fla. He was 84.
By By Frederick N. Rasmussen and The Baltimore Sun
T. Rowe Price, an anchor institution in downtown Baltimore for decades, said Thursday it plans to remain in its Pratt Street headquarters through 2027, quelling fears that it would be lured to move to the county or the city's hot properties farther east.