BALTIMORE, June 18, 2020 /PRNewswire/ --
NEWS
T. Rowe Price and its Foundation
announced today a $2 million
commitment to organizations working to fight racial injustice. The
donation is a continuation of the firm's commitment to racial
equity, which became a stronger focus following the 2015 Baltimore
unrest resulting from the death of Freddie
Gray. The Foundation will work closely with an advisory
committee that will include representation from the firm's
associates to determine the recipients of this donation.
The firm is also encouraging associates who are interested in
financially supporting racial equity to take advantage of the
company's matching gift program.
This commitment follows a recent statement by the firm's
President and CEO Bill Stromberg on
fighting racial injustice and builds on the firm's existing efforts
to promote racial equity. Over the past five years, the T. Rowe
Price Foundation has prioritized and continued to refine how it
incorporates equitable philanthropy practices in all facets of its
work to support local communities. This includes donations of more
than $2.4 million in support of
organizations with goals to empower youth and increase access and
opportunity for Black and African American communities and
marginalized people.
QUOTE
Bill
Stromberg, president and chief executive officer, T.
Rowe Price
"My hope is that
we are at an inflection point and that our actions and voice will
contribute to the encouraging momentum behind the call for racial
justice. Today, on the eve of Juneteenth, the firm and its
Foundation continue their commitment with the donation of
$2 million to support organizations
that are working to dismantle racial injustice."
ABOUT T. ROWE
PRICE
Founded in 1937, Baltimore-based T. Rowe Price Group,
Inc. (NASDAQ-GS: TROW), is a global investment management
organization with $1.19 trillion in
assets under management as of May 31,
2020. 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. For more information, visit
troweprice.com.
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SOURCE T. Rowe Price Group, Inc.