Senior Legal Counsel / Managing Legal Counsel in London

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.

With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity. Join us for the opportunity to grow and make a difference in ways that matter to you.

POSITION PURPOSE

The ideal candidate would be around 7-8 years PQE. This role does not involve management of direct reports. The successful candidate will lead on legal advice in relation to institutional, solutions and distribution matters relating to T. Rowe Price’s investment products and services outside the United States, including contract negotiation and separate account client onboarding. The candidate will work closely with Legal Counsels and compliance professionals based in London, United States, Luxembourg, Dubai and APAC offices, providing legal advice and support to T. Rowe Price’s business operations in EMEA, UK, APAC and Latin America.

The candidate should expect a wide variety of predominantly asset management assignments globally and therefore should be well versed in onboarding client mandates through investment management agreements (IMAs) and advisory agreements, model portfolios, and cross border distribution and fund structures (e.g. SICAVs, ICVCs, ICAVs, ETFs and OEICs). The candidate will also handle general project work, as may be needed, for the region. The successful candidate should be commercially minded and be able to demonstrate a solid understanding of the asset management industry globally, with the ability to influence and create excellent working relationships with senior business partners.

Principal Responsibilities

• Reviews and negotiates separate account advisory and investment management agreements and amendments for institutional clients such as banks, pension funds and sovereign wealth funds.
• Assists in completion of RFPs.
• Works closely with the client onboarding, investment and sales teams to identify issues and negotiate resolution.
• Works on updating internal agreement precedents and procedures, and advising on drafting, development and maintenance of internal policies.
• Reviews and negotiates fund distribution/platform and purchase agreements.
• Works closely with colleagues in product management and intermediary liaison to identify legal, commercial and operational issues in such agreements and to negotiate resolution.
• Represents the legal team on internal governance committees and working groups, effectively communicating legal positions to key stakeholders.
• Monitors relevant regulatory developments.
• Works closely with the business to advise on regulatory changes pertaining to the asset management and trading sector, and their impact.
• Undertakes complex legal projects and investment solutions launches, covering areas related to FCA or EU consultations and policy statements, ESG etc.
• Undertakes research and summaries for senior legal and business colleagues.
• Reviews and negotiates general transaction related documents.
• From time to time as required, assists legal counsels in the review and update of fund documents and materials and advising colleagues in product management.

PERSONAL ATTRIBUTES / SKILLS / QUALIFICATIONS

• Bachelors degree and professional qualification as a solicitor of England and Wales with a demonstrable interest in the financial services industry.
• Extensive and significant commercial experience gained in private practice and/or relevant in-house Legal department in the asset management industry.
• Demonstrable experience in drafting, review and negotiation of IMAs, distribution agreements and other asset management-related documentation and commercial contracts.
• Knowledge of EU and UK regulatory rules, in particular those issued by the CSSF, CBI and FCA.
• Experience of liaising with regulators from time to time.
• Attention to detail and ability to work under tight timeframes and meet deadlines.
• Ability to interact with a diverse group of internal and external contacts.
• A team player who can also work independently.
• A collaborative and client-enabling approach to the provision of legal support.
• Fluent in English. Excellent written and oral skills.

Preferred

• European language skills, particularly German and/or Italian.
• Wider work experience within the financial services area, EU regulated funds structures and private funds experience, and of ETF and mutual fund-related documentation.
• Experience in ESG and in particular EU SFDR.
• Knowledge of capital markets legal issues, regulation and documentation (ISDAs, clearing agreements, EMIR).
• Commercially aware and attuned to the needs of a global business.

Commitment To Diversity, Equity, And Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, colour, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.