American asset management firm T. Rowe Price Group has named Robert Sharps as its new head of investments, effective 1 March 2018.

At present, Sharps is acting as co-head of global equity and group CIO, a role he will retain.

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In his new role, Sharps will oversee all investments activity of the firm and continue to report to Bill Stromberg, the company’s president and CEO.

Stromberg stated: “As a 20-year veteran of the firm and former long-time portfolio manager of our US Large-Cap Growth Equity Strategy, Rob is an astute investor who has become increasingly immersed in all areas of Investments.”

With Sharps’ elevation to new post, Eric Veiel, head of US Equity, has been given additional charge of co-head of global equity, along with Chris Alderson, currently head of international equity and co-head of global equity.

The company also announced that its vice chairman Edward Bernard will step down from his post on 31 December 31 2018.

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Bernard, who has been associated with the company with over 30 years, will stand for re-election to a final one-year term on the T. Rowe Price board of directors at the firm’s upcoming April 2018 annual meeting of stockholders.

Commenting about Bernard, Stromberg said: “Ed’s contributions to our success over the last three decades have been significant and instrumental to the growth of the firm and the enhancement of our capabilities, reach, and reputation.”