T. Rowe's Rogers to step down as manager of $30 bln equity fund

BOSTON, June 3 Tue Jun 3, 2014 10:31am EDT

BOSTON, June 3 (Reuters) - Baltimore asset manager T. Rowe Price Group Inc said Brian Rogers will step down as manager of its $30 billion Equity Income fund in October 2015 and hand over the reins to John Linehan.

Rogers will remain the company's chief investment officer and chairman of its board of directors, T. Rowe Price said on Tuesday.

In addition, Bill Stromberg, head of equity, will assume leadership of U.S. equity from Linehan, effective immediately, T. Rowe Price said. (Reporting by Ross Kerber; Editing by Jeffrey Benkoe)