T. Rowe expands Sydney base with Tokyo PM relocation

Global asset manager T. Rowe Price has announced it will relocate its senior multi-asset portfolio manager, Richard Coghlan, from its Tokyo to its Sydney office in a bid to “increase engagements with Australian clients”.

Darren Hall, T. Rowe’s country head and head of distribution Australia, welcomed the addition of Coghlan to his Sydney-based global multi-asset division, noting that Australia is a key target for the firm’s global growth strategy.

“Richard will help us expand our solutions offering, including working toward the development of Australian retirement capabilities, especially around target date solutions,” Hall said, which, the company states, provides its investors with “an age-appropriate, diversified portfolio… to carry an investor to and through retirement”.

As part of his new Sydney-based role, Hall added, “[Coghlan] will also provide broad market views to institutional investors to deepen our partnerships and grow our business.

“We are excited about the opportunities this move will bring to the firm and the Australian market.”

Coghlan, who has held the role for more than seven years, oversees T. Rowe’s multi-asset steering committee as well as the firm’s multi-asset global Investment strategies team. He also serves as portfolio manager for T. Rowe’s real assets and multi-asset global income strategies.

“With his wealth of experience in global investment solutions and retirement investment, Coghlan will deepen the firm’s relationships with local clients in these areas,” the company said in a statement.

A US native with extensive experience across the Asia Pacific region, Coghlan served more than 17 years within global investment giant Schroders’ East Asia and North America divisions, including multi-year stints in South Korea and Hong Kong, before joining T. Rowe Price in 2017.

T. Rowe reports that its multi-asset division manages over US$440 billion (AU$667 billion) in multi-asset portfolios for retail and institutional clients.

The firm is also the third largest provider of target-date portfolios in the US, with US$372 billion ($564 billion) target date retirement assets under management.

Coghlan will begin his new term in T. Rowe’s Sydney office from 1 January 2024.