Daijiworld Media Network - Baltimore
Baltimore, Oct 17: Former US Ambassador to India, Richard R. Verma, has been appointed as an independent director on the board of T. Rowe Price Group, Inc., expanding the board from 11 to 13 members. Verma, who is currently Chief Administrative Officer at Mastercard, previously served as US Deputy Secretary of State for Management and Resources and as US Ambassador to India from 2014 to 2017.
Verma joins the board alongside Allan Golston of the Bill & Melinda Gates Foundation. The appointments bring diverse experience in diplomacy, corporate leadership, and social development to the company’s governance and strategic discussions.
Verma previously served on T. Rowe Price’s board from 2018 to 2023 before stepping down to return to government service. CEO Rob Sharps welcomed his return, stating that Verma adds global perspectives drawn from his extensive experience in public policy, business, and international affairs.
T. Rowe Price, founded in 1937 and headquartered in Baltimore, manages over $1.6 trillion in assets worldwide. The board expansion reflects the firm’s aim to incorporate expertise from diverse sectors, including international policy, corporate governance, and social impact.
Verma holds a Doctorate in International Relations and an LL.M. in International Law from Georgetown University, a law degree from American University, and a Bachelor of Science from Lehigh University. He is also a US Air Force veteran who served as a Judge Advocate.
His appointment is expected to contribute to discussions on corporate strategy, governance, sustainability, and global investment considerations.