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FIS to take over record-keeping tech, operations for T. Rowe Price
About 800 T. Rowe employees will be offered jobs with FIS; the transition is effective Aug. 1.
May 19, 2021
T. Rowe Price Group, which already uses the services of FIS, plans to turn over the management of its retirement technology development and core operations of its record-keeping business to FIS effective Aug. 1.
“Deepening the partnership follows an extensive strategic review of the business and will allow T. Rowe Price to continue providing quality services, further increase operational efficiency, and enhance delivery of innovative retirement solutions for plan sponsors and participants while strengthening the firm’s position in the industry,” the company said in a release.