T. Rowe Price hires PIMCO alum for new alts role

Former PIMCO executive Chris Tarui has joined T. Rowe Price in a newly created role as the firm builds up its alternative investments business.

The $1.5 trillion mutual fund giant has identified liquid and private alternatives as an area of strategic investment for the firm over the next two to three years.

As a business development executive for alternatives, Tarui, will be responsible for formulating and driving the firm’s business development efforts for alternative investments with institutional clients globally. He reports to Chris Newman, head of Americas and a member of the T. Rowe Price’s global distribution executive committee.

At PIMCO, he was executive vice president and institutional account manager. Prior to that he served as a director at KKR and was a client advisor prior to that at Bridgewater Associates.

“His deep experience and history of working with some of the largest and most sophisticated public and corporate pensions, endowments, foundations, family offices and consultants make him a meaningful addition to our team,” said Newman in a statement. “Chris’ new role speaks to our commitment to strengthening our alternatives business development capabilities, and his strategic focus in this area will be instrumental in enabling us to stay at the forefront of serving the full range of our clients’ rapidly expanding needs.”

Mr. Tarui has been tasked with creating a global distribution plan for alternative investments and leading the sales effort, while identifying and cultivating new business prospects and partnering with distribution teams across sales, client service, and consultant relations.

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