T. Rowe Price Group has announced its Asset Allocation division has hired Yoram Lustig as head of Multi-Asset Solutions for Europe, Middle East, and Africa (EMEA) and Lowell Yura as head of Multi-Asset Solutions for North America. The hiring of Lustig and Yura underscores T. Rowe Price’s strategic commitment to the expansion of its multi-asset solutions business globally and the company’s ability to serve its clients in this growing area. Lustig is based in London and Yura is based in Baltimore. Both report to Peter Austin, head of Multi-Asset Solutions and a member of T. Rowe Price’s Asset Allocation investment team.
T. Rowe Price’s Multi-Asset Solutions group engages clients and prospects across the globe in consultative discussions to identify how the firm can best meet their investment objectives through the firm’s broad equity, fixed income and asset allocation investment capabilities.
Lustig was most recently head of Multi-Asset Investments UK for AXA Investment Managers in London. Prior to his time at AXA, he was head of Multi-Asset Funds for Aviva Investors in London. Earlier in his career, Lustig was head of Portfolio Construction – EMEA at Merrill Lynch. He has extensive experience in the design of investment solutions, including absolute return, inflation-plus, risk managed and environmental, social and governance (ESG) strategies. In addition, all three of his prior roles included responsibility for managing multi-asset strategies, including dynamic asset allocation and investment selection. A published author, Lustig holds a law degree from Tel Aviv University and an MBA from London Business School. He is also a licensed lawyer.
Yura was most recently managing director and head of Multi-Asset Solutions for BMO Global Asset Management in Chicago. Prior to BMO, he was managing director, and head strategist, Americas and UK, for Global Investment Solutions at UBS Global Asset Management. Earlier in his career, Yura was a consulting actuary at Towers Perrin and investment consultant at Mercer. He has extensive experience in the design and management of investment solutions across a range of markets. His background includes responsibility for global balanced, global tactical asset allocation, liquid alternative and overlay strategies for US mutual funds and separate accounts. He also had oversight of investment strategy committees. Yura holds an undergraduate degree from the University of Illinois and an MBA from the University of Chicago.
Peter Austin, head of Multi-Asset Solutions commented: “Global institutional investors are increasingly framing their investment objectives in the form of an outcome, not a benchmark return. This has led to the growth in customised multi-asset strategies. These strategies draw from a wide opportunity set of investments, and provide investors a better opportunity to achieve their outcomes in a consistent fashion.”
Sebastien Page, head of Asset Allocation said: “Growing our multi-asset solutions business is a strategic priority. Lowell and Yoram are highly experienced professionals who will be great additions to our team as we continue to work with clients globally to provide solutions to diverse investment objectives.”