T. Rowe Price Associates of Baltimore, Md., later this year, will begin operating under a new holding company, T. Rowe Price Group, said Steven Norwitz, a spokesperson for the company. T. Rowe Price Associates will be one of several subsidiaries operating under the new company.

The move will provide financial flexibility, he said. The change will also make it easier for the firm to acquire other firms and raise capital, Norwitz said.

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