T. Rowe Price Names New Head of Global Retirement Team

Jessica Sclafani will head T. Rowe Price Group Inc.’s retirement strategist team, as its current head, Michael Davis, enters a planned retirement.

Davis confirmed in a LinkedIn post that he announced his plan to retire last November and his last day at work will be May 1.

On Wednesday, T. Rowe Price announced that its expanded global retirement team leadership will also include Richard Parkin, head of U.K. retirement, and Scott Keller, head of Americas, APAC, and EMEA distribution.

“I am thrilled about this evolution and look forward to supporting their smooth transition,” Davis wrote on LinkedIn. “Now, as I edge closer to my own retirement date, I look forward to the road ahead, one I expect will be filled with new questions to explore, more time with family and continued adherence to the principles I hold dear.”

Sclafani joined T. Rowe Price in 2022, beginning in the Americas division. She is responsible for authoring original thought leadership on topics including investments, plan design and retirement-related regulatory and legislative developments.

Previously, Sclafani was an analyst at Wellington Management Co. LLP, director of Cerulli Associates’ retirement practice and served MFS Investment Management as a defined contribution strategist and director of its investment solutions group. She earned a bachelor of science degree from Boston College.

Davis joined T. Rowe Price in 2016 and was appointed the head of T. Rowe Price’s global retirement strategy team as it was formed in 2024. The team deals with retirement solutions, client partnerships, research and thought leadership and financial wellness and education.

Previously, Davis was T. Rowe Price’s head of defined contribution practice before leading the retirement strategy team. His 34-year career has included investment banking, asset management and retirement policy. He was a deputy assistant secretary at the Department of Labor for several years until 2012.

In a statement, Dee Sawyer, head of Global Distribution for T. Rowe Price, said Davis “made a significant and lasting impact on our retirement business, adding: “Among his most meaningful contributions have been the strong, focused teams built under his leadership. He established a foundation for our retirement strategy that will continue to shape our work.”

T. Rowe Price announced in September that Goldman Sachs Group Inc. would invest up to $1 billion in a partnership to bring more public and private market products to retirement and wealth investors.