The firm reports US$1.61 trillion in AUM for Q4 2024 while working to reduce net client outflows
T. Rowe Price (Canada), Inc. has appointed Mike Meligrigoris, CFA, as vice president for institutional business in Canada.
Meligrigoris has over 25 years of experience in financial services, including business development, account management, and institutional sales.
Before joining T. Rowe Price, he was vice president of institutional business development at CIBC Asset Management, where he led institutional sales in Quebec and Atlantic Canada. He previously worked at Pavilion Global Markets as a project manager for portfolio transition management.
He also holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society of Montreal.
Lauren Bloom welcomed Meligrigoris to the team in Canada, stating, “We are extremely pleased for [him] to join our team in Canada.”
Bloom noted that with over 25 years in financial services, his connections with institutional clients and consultants will support the firm's presence in Eastern Canada.
Bloom also mentioned that Meligrigoris joins an expanding team, which includes Taylor Pidgeon, vice president for defined contribution, and Jeff Li, vice president for the intermediary business, both of whom joined in 2024.
In this role, Meligrigoris will oversee sales, client service, and consultant relations in Eastern Canada. Based in Montreal, he reports to Lauren Bloom, head of Canada at T. Rowe Price.
T. Rowe Price also reported assets under management (AUM) of US$1.61tn as of December 31, 2024. The firm recorded net client outflows of US$19.3bn in Q4 2024 and US$43.2bn for the full year.
T. Rowe Price chair and CEO Rob Sharps commented on the firm's performance, stating, “We are growing our ETF business, expanding our position in the insurance channel, and extending our target date franchise into Canada.”
He noted that the firm closed 2024 with US$1.6tn in AUM and US$43.2bn in net outflows, nearly halving outflows year over year. Sharps added that he expects the firm to continue reducing outflows in the coming year.
