T. Rowe Price announced that is has hired Michael Benedetto in the new role of head of its global Separately Managed Account (SMA) offering. In this position, he will oversee the strategic direction of T. Rowe Price's SMA business globally, including manager traded SMAs, model delivery SMAs, dual contract SMAs, and asset allocation model portfolios. Benedetto, who joined T. Rowe Price this week, reports to Cheri Belski, head of Global Product.

In his new role, Benedetto will work closely with clients and key internal stakeholder groups, including product, distribution and investments on product strategy, development, and management activities to further evolve and build out the firm's SMA lineup and capabilities. Benedetto joins T. Rowe Price with more than 20 years of industry experience, having most recently served as head of Intermediary Separate Accounts and Sub-Advised Funds at Neuberger Berman in New York. There, he also served as a managed account subject matter expert, offering insights on industry trends and developments, and as director of SMA Trading and Portfolio Implementation.

He holds a Bachelor of Arts degree in economics from the University at Albany – State University of New York, and holds the FINRA Series 7 and 66 licenses.