Monday, October 5, 2009

Is T. Rowe Price a New Inside Player?

Do we have a junior Goldman Sachs in the making?

Back in August, Treasury Secretary Geithner hosted a private dinner at the Treasury for six top business executives. Among them was James Kennedy, President and CEO, of the money manager/mutual fund operator T. Rowe Price.

Today, President Barack Obama announced his intent to nominate Mary J. Miller for Assistant Secretary of the Treasury for Financial Markets, Department of the Treasury. Miller is a heavy hitter at T. Rowe Price.

She is currently a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc., and the director of the Fixed Income Division. She is a member of the firm's Management and Finance Committees and chairperson of the Fixed Income Steering Committee. Miller serves as president of a number of T. Rowe Price fixed-income mutual funds, the Tax-Free Income Fund, the U. S. Treasury Funds, and the Strategic Income Fund. She also has key investment management responsibilities on the firm's Asset Allocation Committee and serves as an Investment Advisory Committee co-chairperson for the Tax-Free Income Fund.

It's time to keep an eye out on what kind of regulations develop out of the Obama Administration for mutual funds.

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