T. Rowe Price opens technology development center in NYC – Baltimore Sun

T. Rowe Price Group has opened a technology development center in New York City as the Baltimore money manager looks to expand the role of technology in its investment strategies.

The center will employ between 50 and 60 workers, including technical architects, data scientists, software engineers and software developers.

The center will work with other T. Rowe technology groups in Baltimore and London to develop new ideas for how machine learning and advanced analytics can be used to improve the firm's investment and distribution capabilities, said Nigel Faulkner, T. Rowe's chief technology officer, in a statement. It also will work on improving client experience, he said.

"As the firm continues to evolve, with a focus on continuing to meet the needs of our clients, we are investing heavily in technology and putting a strong emphasis on innovation," Faulkner said in a statement. "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."

Faulkner described the new technology development center as one of many strategic moves T. Rowe is making as it embarks on "a bold and exciting technology strategy."

Jordan Vinarub, who has 15-years experience in software engineering and development operations, has joined T. Rowe to lead the technology center.

Vinarub most recently worked as a software development manager for Connecticut-based investment management firm Bridgewater Associates.

The center is temporarily based in the financial district and will move this fall to 233 Park Ave. in Midtown South.

sarah.gantz@baltsun.com

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T. Rowe Price opens technology development center in NYC - Baltimore Sun