Richard Coghlan

T. Rowe Price, a leading global asset manager with over US$1.3 trillion in assets under management, has announced it is relocating a senior multi-asset portfolio manager from Tokyo to Sydney to increase engagements with Australian clients.

Richard Coghlan, whose responsibilities include being a key member of T. Rowe Price’s Multi-Asset Steering Committee, overseeing the firm’s Multi-Asset Global Investment Strategies team and being a portfolio manager for the Real Assets Strategy and Multi-Asset Global Income Strategy, will be based in Sydney from 1 January 2024. With his wealth of experience in global investment solutions and retirement investment, Coghlan will deepen the firm’s relationships with local clients in these areas.

Darren Hall, T. Rowe Price’s Country Head and Head of Distribution, Australia welcomed the addition of Coghlan to his team of investment experts. “This move will enable the Global Multi-Asset Division to increase coverage in Australia, which has been identified as a focus market in T. Rowe Price’s global growth strategy. Richard will help us expand our solutions offering, including working toward the development of Australian retirement capabilities, especially around target date solutions.

“He will also provide broad market views to institutional investors to deepen our partnerships and grow our business. We are excited about the opportunities this move will bring to the firm and the Australian market,” Mr Hall said.

T. Rowe Price’s multi-asset division managed over US$440 billion in multi-asset portfolios for retail and institutional clients as of September 30, 2023.

Its target date retirement strategies seek to provide investors with an age-appropriate, diversified portfolio that can carry an investor to and through retirement. Target date solutions have become important retirement investment vehicles for many individual investors and for a growing majority of those participating in defined contribution plans.

T. Rowe Price is the third largest provider of target-date portfolios in the U.S.^[1], with US$372 billion target date retirement assets under management as of September 30, 2023.

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[1] Source: Morningstar (2023). “2023 Target-Date Funds and CITs Landscape.”  See Additional Disclosures for sourcing information.

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