Baltimore-based asset manager T. Rowe Price has opened a technology development centre in New York, as part of its technology transformation strategy.
The new innovation hub will complement the firm’s other technology center located in Baltimore and London.
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It will focus on machine learning, advanced analytics and digital technologies to optimize its technology-driven trading and customer experience, the company said.
Jordan Vinarub, who recently joined the firm, will head the new technology development centre. The firm plans to hire about 50 to 60 people for the project.
T. Rowe Price chief technology officer Nigel Faulkner said: “The New York Technology Development Center is one of many strategic moves we are making as we embark on a bold and exciting technology strategy.
“Broadening our technology skills base will enable us to better use technology to augment our proven investment capabilities, enhancing our ability to sustain our outstanding investment results. It will also help us enhance client and digital experiences across our business.
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By GlobalData“The Midtown South location, which will contribute to a great working environment, is appealing to technologists and puts us in the heart of the area of Manhattan from which we are recruiting.”
