October 5, 2009
President Barack Obama has announced his intent to nominate Mary Miller, director of the firm's Fixed Income Division, to be Assistant Secretary for Financial Markets within the United States Department of the Treasury. This role serves as senior advisor to the Department on broad matters of domestic finance, the financial markets, and Federal Government credit policies. The Assistant Secretary also serves as a senior member of the Treasury Financing Group and coordinates the inter-agency President's Working Group on Financial Markets. Ms. Miller will accept this nomination and proceed through a formal Senate confirmation process over the coming months.
Ms. Miller has served more than 26 years in our Fixed Income Division, leading this unit for the last five years and helping to successfully build a very strong fixed income team with a deep bench of talent. In addition, she serves as a member of the firm's Management and Finance Committees, and as president of several T. Rowe Price fixed income mutual funds.
This nomination is a well-deserved honor for Ms. Miller, and we applaud her commitment to serving our nation through this important public service role. Once we better understand the timing of the confirmation process, we will communicate our succession plan that we believe will continue our long tradition of investment management excellence for our clients around the world. We are proud of the significant contributions she has made over the years and extend our sincere congratulations to her on this well-deserved nomination.
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