T. Rowe Price Expands Claude Across Investment Teams and Developers

T. Rowe Price and Anthropic announced on September 10, 2026, the expansion of Claude across the asset manager’s investment organization. Portfolio managers and analysts are using Claude and Claude Cowork to support the firm’s research process, and its developers are adopting Claude Code to build tools for the investment process.

The Baltimore-based firm presented the rollout as the next phase of its broader artificial intelligence strategy and said it builds on AI-enabled work already underway across the firm. According to the release, T. Rowe Price managed $1.87 trillion in client assets as of July 31, 2026, with about two-thirds of those assets retirement-related.

Three Deployment Areas

The firm said it intends to apply Claude where it can add the most value to the investment process, and it named three areas. In research and insights, Claude Cowork is intended to help investment professionals synthesize complex information, creating more room for research, analysis, and debate. In workflow support, Cowork will assist teams with knowledge-intensive processes that span multiple steps and demand efficiency, consistency, and appropriate oversight. In technology enablement, Claude Code will support developers as they build and refine tools that improve productivity across investment and operating workflows.

The announcement framed the rollout around how the firm invests. T. Rowe Price said its decisions as an active investment manager rest on proprietary fundamental research: analysts and portfolio managers work through large volumes of information and then apply experienced judgment to reach a view. Giving those professionals more capacity for exactly that work, the firm said, is the goal.

AI Leadership and Governance

The deployment operates under the AI leadership model T. Rowe Price announced on August 13, 2026. That model puts AI leadership inside the firm’s Investments and Global Distribution units and gives T. Rowe Price Labs, its enterprise AI innovation hub, the job of evaluating and scaling AI across the firm. According to the new release, each application has a business owner, operates under the firm’s responsible-use standards, and is designed so that human judgment and accountability remain central to client outcomes.

The August announcement set out the organization behind that model. Vinit Agrawal leads Investment AI Solutions, the investment pillar of the firm’s AI strategy, whose remit covers AI strategy, agentic products, education and adoption, strategic partnerships, and experimentation and research. Sal Dhanani leads Global Distribution AI Strategy and Transformation, which carries the client engagement pillar. Mathieu Lorentz leads T. Rowe Price Labs within the AI Engineering organization headed by Chris LePre, and Prabhakar Bhogaraju leads Enterprise AI, Model, and Technology Risk, reporting to chief risk officer Ted Carter and covering governance, oversight, and regulatory readiness.

The August release also said the firm had built an enterprise AI foundation spanning dedicated technology, data, and operations capabilities; active use case development in key business areas; wider associate access to AI tools; and enhanced risk oversight.

Executive Statements and Firm Context

Eric Veiel, T. Rowe Price’s president, co-head of Global Investments, and chief investment officer, said, “Claude lets our investment professionals cover more ground and go deeper on what matters.” He described Claude as an extension of the research approach that has served the firm’s clients for nearly 90 years.

Ramon Richards, global head of Technology, Data, and Operations and chief technology officer, said the deployment began where the firm creates the most value for clients, with governance built to scale from that point. The goal, he said, is new ways of working that allow associates to think more deeply and deliver more for clients, backed by the security and controls the firm requires.

Peter Nolan, head of Asset and Wealth Management at Anthropic, said T. Rowe Price is bringing Claude into the part of the firm where the bar for accuracy and judgment is highest. “Research is the foundation that everything in active management is built on,” he said.

The firm said the collaboration sits within a broader firmwide effort that pairs AI adoption with continued investment in people and capabilities, through AI training, talent development, and responsible-use guidance for associates. T. Rowe Price said the work with Anthropic is designed to accelerate its adoption of advanced AI and to advance its stated ambition to lead the investment management industry in applying AI to investing, firm operations, and client service. The release also discloses that T. Rowe Price portfolios invest in Anthropic.