T. ROWE PRICE NAMES POPPY ALLONBY AS HEAD OF ENVIRONMENTAL, SOCIAL, AND GOVERNANCE ENABLEMENT

Rhea-AI Summary

T. Rowe Price Group has appointed Poppy Allonby as the head of ESG Enablement starting June 6, 2022. Allonby brings 20 years of experience in asset management and will be a key member of the ESG Leadership Committee, responsible for executing the company's ESG strategy and overseeing its corporate ESG positioning and product range. Previously, she led sustainable product strategies at BlackRock, managing over $970 billion in assets. T. Rowe Price, based in Baltimore, manages $1.42 trillion in assets as of April 30, 2022.

Positive

• Appointment of Poppy Allonby brings 20 years of ESG and investment experience.
• Allonby will enhance the execution of T. Rowe Price's ESG strategy.
• Her previous experience with over $970 billion in assets at BlackRock is a significant asset.

Negative

• None.

BALTIMORE and LONDON, May 19, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), announced today that Poppy Allonby, an investment and environmental, social, and governance (ESG) leader with 20 years of asset management industry experience, will join the firm on June 6, 2022, as head of ESG Enablement.

In this new role, Allonby will join the ESG Leadership Committee and help execute the firm's ESG strategy, driving cross-functional consistency and coordination of the strategy. In alignment with T. Rowe Price's business strategies and ESG investing capabilities, she will oversee the firm's corporate ESG positioning, global ESG product range, regulatory engagement, and go-to-market approach.

Allonby will be based in London and report to Eric Veiel, head of Global Equity and member of the Management Committee with oversight responsibility for the firm's ESG investing, corporate, and operational activities. The other members of the ESG Leadership Committee are Donna Anderson, head of Corporate Governance for T. Rowe Price Associates, Inc. (TRPA); Maria Elena Drew, director of research for Responsible Investing for TRPA; and Chris Whitehouse, head of ESG for T. Rowe Price Investment Management, Inc.

"Our stakeholders, clients, employees, and shareholders are interested not only in how we invest, but also in how we behave as a firm," said Veiel. "Poppy's investing, strategy, and global leadership experience, as well as her broad sustainability and climate change expertise, will be invaluable as we advance our ESG strategy and deliver an integrated ESG vision for the firm. As we embed sustainability principles throughout our business, we look forward to benefiting from the perspective and innovative approach she will bring to the ongoing buildout of our operational ESG capabilities."

Allonby most recently was head of Global Product, EMEA and APAC, for BlackRock, where she was instrumental in developing and delivering the sustainable product strategy for its active investment business. She was also responsible for product strategy, product development and structuring, and ongoing investment oversight for more than 1,000 funds with US$970 billion in assets under management across all asset classes. Previously at BlackRock, Allonby was a portfolio manager for multibillion-dollar global energy funds that invest across the traditional energy sector, as well as for dedicated sustainable energy funds investing in renewables, energy efficiency, automotive, and companies mitigating climate change.

She serves on the external advisory board of the Massachusetts Institute of Technology (MIT) Energy Initiative, MIT's hub for energy research, education, and outreach. From 2016 to 2017, Allonby served as a commissioner for the Energy Transitions Commission, a global multidisciplinary thought leadership group working to accelerate low-carbon energy systems. In 2016, the World Economic Forum recognized her as a "Young Global Leader."

ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with US$1.42 trillion in assets under management as of April 30, 2022. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers a variety of sophisticated investment planning and guidance tools. T. Rowe Price's disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.

 

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SOURCE T. Rowe Price Group, Inc.

FAQ

Who is Poppy Allonby and what is her role at T. Rowe Price?

Poppy Allonby is appointed as the head of ESG Enablement at T. Rowe Price starting June 6, 2022.

What is the significance of the ESG Leadership Committee at T. Rowe Price?

The ESG Leadership Committee oversees the implementation of the company's ESG strategy.

When was Poppy Allonby appointed to T. Rowe Price?

Poppy Allonby was appointed on May 19, 2022, and will start her role on June 6, 2022.

What experience does Poppy Allonby bring to T. Rowe Price?

She has 20 years of asset management experience and formerly led sustainable product strategy at BlackRock.

How much does T. Rowe Price manage as of April 30, 2022?

As of April 30, 2022, T. Rowe Price manages $1.42 trillion in assets.