We will see winners and those that trail behind as underlying forces impact markets, says T. Rowe Price Canadian head
Institutional investors are dealing with many worldwide trends, and active managers must stay at the forefront of how these trends will impact markets.
“The markets of the future are going to look very different from the markets of today as there is an emergence of new underlying forces that are that are changing things,” says Lauren Bloom, head of Canada, distribution, with T. Rowe Price.
“There are conversations around sustainability, climate change and ESG, innovation and technology, whether it's AI or, within healthcare, how GLP-1 (glucagon-like peptide one agonists, a class of type two diabetes drugs that improves blood sugar control and may also lead to weight loss) is going to make an impact. We also have an aging population which will impact people's health going forward.
“It's all these different forces in this evolving marketplace with different market dynamics and we will see big winners. We will also see industries and companies that will trail behind. This is what gives us the opportunity as active managers to flourish in these types of markets,” she says.
Bloom has been with T. Rowe Price for almost six years and started her role as head of Canada, distribution, in July 2022. She is responsible for leading, developing, and executing the Canadian distribution strategy and providing leadership to a high performing team.
In the Canadian marketplace, her division participates in three channels: traditional institutional; sub advisory and separately managed account (SMA) platforms; and DC investment solutions.
“From the start, I knew I liked the investment industry and I established a strong foundation by completing my CFA at an early age,” Bloom says. “During the first decade of my career, I held various roles with a large Canadian asset manager.
A move towards client-focused engagements
“Initially I wanted to pursue a career in as an investment analyst with the goal of becoming a portfolio manager. However, as I explored the industry and began developing these skill sets, I gravitated towards client-focused engagements and accepted a role within the firm’s institutional asset management sales and service team.
“I joined T. Rowe Price because the firm’s strategies and values were very closely aligned with my own.”
Bloom says what she appreciates the most about her role is the opportunity to make a difference in people’s lives. “What we do here really matters. Our clients have placed their trust in us to secure their financial futures and we are dedicated to helping them reach their long-term goals.
“What we do is very complex. Markets are ever changing, so I am constantly learning. I'm surrounded by intelligent individuals at T. Rowe Price as well as clients and prospects, and we have interesting discussions and share different perspectives.
“So, as an individual, I am constantly improving my knowledge and skill sets.
“I also appreciate the team and the people I work with on a daily basis. They are so valuable to the enjoyment of work. I'm very much committed to inspiring them and fostering an environment of collaboration and connectedness, because culture leads to innovation. It leads to strong teamwork and successful implementation of our strategy and the success of helping our clients succeed.
“As well, the relationships that we build with clients and prospects over time are incredibly rewarding. It is important to me that as the leader of our Canadian business, I focus a tremendous amount of my time is championing the T. Rowe Price culture of high integrity, trust, and honesty.”
The dynamic, ever-changing industry also keeps her role interesting, Bloom says.
“We need to make sure we stay on top of trends and challenges that our clients face and source opportunities that may exist in the marketplace. We have an incredible research platform at T. Rowe with expertise that is very focused specifically in on a sector or industry. It’s this insights team that brings data to our investment professionals and they work with portfolio managers to determine where those changes are going to be positive moving forward.”
These industry advancements and changes impacting the many industries and companies are also having an impact on T. Rowe Price, Bloom adds. For example, “we are leaning into AI. We recognize the benefits and efficiencies it can bring to different aspects of our day-to-day work. We also recognize there are different areas within the company where leveraging AI is more effective. Our programming department has implemented AI and it’s increased their work by 25 percent to be more effective as it relates to sustainability and climate change from a corporate perspective. We are building a new headquarters in Baltimore, MD, and it is going to be an ESG-friendly building.
“We’re also always trying to think of different ways that we can interact with clients and prospects from a technology perspective to be more effective at getting our story to them.”
Bloom thrives on cultivating an environment where her team can thrive and their clients can succeed. “Watching that happen over the past few years has been amazing to see,” she says.
