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T. Rowe Price vice chairman to retire

T. Rowe Price Group Inc. Vice Chairman Edward Bernard will retire from the company, effective Dec. 31.

He will stand for re-election to a final one-year term on the T. Rowe Price board at the firm's upcoming April 2018 annual meeting of stockholders.

The company also announced that Rob Sharps, co-head of global equity and group chief investment officer, has been named head of investments, effective March 1. Sharps will oversee all investments activity of the firm and remain group chief investment officer.

Eric Veiel, head of U.S. equity, will assume the added responsibility of co-head of global equity, partnering with Chris Alderson, currently head of international equity and co-head of global equity.