T. Rowe Price Group announced that Céline Dufétel will join the firm as vice president and next chief financial officer (CFO) by December Form 10-K for the 2017 fiscal year in February 2018. Ken Moreland will then retire after nearly 14 years of service to the firm.
As CFO, Dufétel will provide global leadership and oversight for all financial activities of the firm, as well as manage the various functions within the CFO Group, including Finance, Treasury, Risk, Audit, Corporate Real Estate & Facilities, and Business Services. She also will assume responsibility for the Corporate Strategy team and lead the firm’s relationships with analysts and T. Rowe Price Group stockholders.
Dufétel will report to T. Rowe Price president and CEO Bill Stromberg and be based at the firm’s corporate headquarters in Baltimore.
William J. Stromberg, president and CEO, T. Rowe Price commented: “Dufétel will be a great addition to our management team. She is a dynamic and strategic leader with deep asset management expertise and has a proven track record working with leading global financial institutions to drive accelerated growth, enhance organizational capabilities, and increase profitability. Her background in the strategic, financial, and operational aspects of our industry is further complemented by her extensive engagement with finance teams and broad experience with financial planning and analysis.”
“Ken Moreland continues to serve as our CFO with distinction. He is a highly effective leader, helping the firm navigate an increasingly complex industry environment with rigorous financial discipline. We remain grateful for his leadership and professionalism and his commitment to the firm, our associates, stockholders, and the community. We thank him for dedication through this period of transition.”
Céline Dufétel added: “T. Rowe Price is one of the most admired asset management firms in the industry, and this reputation is well deserved. I look forward to working with firm leadership and the experienced and talented professionals in the CFO Group to further strengthen the firm’s competitive position while driving growth and profitability.”
Céline Dufétel began her professional career with McKinsey & Company in 2004 and served in a variety of operations, strategy, and consulting roles in their New York and Paris offices. She was named a partner with the firm in 2010 and, as head of the North American Asset Management practice, led their engagement with C-suite leadership across the industry. She also founded McKinsey’s Retirement Leaders Roundtable (a community of 40 financial services senior executives) and authored numerous white papers on the dynamics and evolving business strategies of the financial services industry, including retirement reform.
In 2014, Dufétel joined Neuberger Berman, a private, independent, employee-owned investment manager, as global head of Client Service. She currently serves as a managing director and that firm’s global head of Marketing and Client Service, providing worldwide oversight of the company’s successful efforts to engage and serve clients.