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T Rowe Price, the $1tn US asset manager, is seeking the approval of Luxembourg’s financial regulator (CSSF) to strengthen its presence in Luxembourg. The Luxembourg company will become the new head office for its EU business, while the UK entity will continue to serve the domestic market.
Robert Higginbotham, head of global investment services at T Rowe Price, told the Financial Times that all EU offices would be reporting to the Luxembourg company by the end of the year. Mr. Higginbotham expects the entity to be set up by the summer. “We have been working on this for a year and will have to get it complete by the end of the year,” he said.
With 16 international offices serving clients in 47 countries around the world, T Rowe Price has European...
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