T. Rowe Names Head of New Fixed Income Solutions Group

T. Rowe Price has created a new Fixed Income Solutions Group and hired Peter S. Austin to lead it.

In this new role, Austin will initially focus on enhancing the firm’s liability-driven investment (LDI) solutions capabilities for U.S. pension funds.

“While the trend toward LDI is a powerful driver behind the desire for customized solutions, our fixed income solutions effort is broader than LDI,” said Mike Gitlin, Director of T. Rowe Price’s Fixed Income Division. “Our Fixed Income Solutions Group will be working with a broad range of institutional clients to provide customized investment programs tailored to their specific objectives, and will draw upon the resources of the firm’s quantitative research, credit research, fixed income portfolio management, and asset allocation teams. Peter has the experience and capabilities to make our effort a collaborative one for the benefit of our clients.”

Previously, Austin served as Executive Director of BNY Mellon Asset Management, where he was head of BNY Mellon Pension Services. During his 26-year career at the BNY Corporation, he also co-founded Vinings Mellon LLC, a nonqualified benefit plans and taxable institutional assets manager, and served as chief investment officer and managing director of Mellon Lab, Mellon Financial Corporation’s new business incubator.

Austin received his B.A. from Kenyon College and an MBA from the University of Pittsburgh’s Katz Graduate School of Business.