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T. Rowe unloading duties on FIS | Ary Rosenbaum


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T. Rowe Price has announced plans to transfer responsibility for its retirement technology development and core operations to FIS National Information Services.
T. Rowe Price said it was expanding its 30-year relationship with FIS, leveraging FIS’ scale and extensive experience in retirement technology and operations while focusing on its own strengths in investment management and client service to “grow its defined contribution business in a scalable and efficient manner.” In English, that means T. Rowe is scaling back on the back end of their recordkeeping business.
T. Rowe Price already uses FIS’s recordkeeping platform, so that means that there will be no conversion or transition for any clients. However, some 800 T. Rowe employees (about 10% of the company’s workforce) are being offered the same roles within FIS that they have today, effective Aug. 1, 2021 at the same T. Rowe Price offices in ....

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