Member Spotlight #7: T. Rowe Price’s COVID-19 response

The following Member Spotlight is a summary from the interview with Whitney Harmel, vice president of membership and development at the Maryland Chamber of Commerce, and Michael Weigand, head of internal audit at T. Rowe Price, to discuss T. Rowe Price’s response to the COVID-19 pandemic. The full interview is included in the video below.

Rowe Price is a global investment management organization that strives to help investors achieve their financial goals, many of which surround personal retirement efforts. The company was founded in Baltimore in 1937, and is responsible for managing and providing the Maryland 529, 401(k) services and more for companies not only in Maryland, but across the nation and the globe. T. Rowe Price also provides institutional and pension plan support services for their clients.

Rowe Price has 22 global offices. As a result of COVID-19, ninety-seven percent of their staff has efficiently transitioned to working remotely. The company has also closely focused on fulfilling the needs of their senior management across all facilities to ensure that employees are safe and continuing to operate effectively.

In a press release on April 9, as well as highlighted in our Friday Five, the T. Rowe Price Foundation announced donating $540,000 to local and global nonprofits, including $250,000 to Fund for Educational Excellence to feed students in Baltimore City Public Schools and $40,000 to the Emergency Artists Relief Fund in Baltimore. The company also donated over 160,000 N-95 masks to several health care centers in central Maryland and across the United States.

“We have been deeply affected by the COVID-19 pandemic, which has disrupted global economies and markets and forces us to live and work in completely different ways,” says CEO & President of T. Rowe Price, Bill Stromberg. “None of us know for sure how long this pandemic will continue, and the needs of local communities are rising. To help ensure that those needs are met, we are mobilizing our resources and working to minimize the pandemic’s impact on the social fabric of our communities.”

For more information about T. Rowe Price, click here.

Click here to view up-to-the-minute COVID-19 resources on the Maryland Chamber of Commerce’s COVID-19 resources page.





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