Maryland has a vibrant investment industry, with many notable investment firms choosing to base their operations in the state. Major players in Maryland’s investment sector include T. Rowe Price, Legg Mason, Brown Advisory and Calvert Research and Management. These firms manage billions in assets and employ thousands of investment professionals in Maryland. The state provides good access to major financial hubs like New York and Washington D.C. It also offers tax incentives and a skilled workforce. Maryland’s investment industry plays a key role in the state’s thriving financial services sector.
T. Rowe Price Remains a Powerhouse in Maryland’s Investment Sector
Baltimore-based T. Rowe Price is one of the oldest and largest investment firms in Maryland. Founded in 1937, the firm had over $1.3 trillion in assets under management as of 2022. T. Rowe Price offers a wide range of mutual funds, subadvisory services and separate account management strategies. It employs over 7,600 people worldwide, with its global headquarters and around 4,600 employees located in Maryland. The company has achieved strong long-term investment performance across asset classes.
Legg Mason Offers Diverse Investment Strategies from Maryland Headquarters
Legg Mason has been headquartered in Baltimore since its founding in 1899. In 2020, it was acquired by Franklin Resources, Inc., forming one of the world’s largest independent asset management firms. Legg Mason provides investment strategies spanning equities, fixed income, liquidity, alternatives and real assets. Prior to its acquisition, Legg Mason had over $800 billion in assets under management. It continues to maintain a major presence in Maryland after the deal.
Brown Advisory Calls Maryland Home to $142 Billion in Assets
Founded in 1993 in Baltimore, Brown Advisory has grown to become a leading independent investment firm managing $142 billion in client assets. It offers equity and fixed income investing, along with alternative investments and asset allocation strategies. Brown Advisory employs over 1,100 people globally, including over 500 investment professionals working from its Maryland headquarters.
Calvert Research and Management Focusing on Responsible Investing
Calvert Research and Management has been headquartered in Maryland since its founding in 1976. It is a pioneer in responsible and sustainable investing. Calvert manages over $34 billion in assets for individual and institutional investors. It offers actively managed mutual funds focused on companies meeting its sustainability criteria. Calvert has over 200 employees located in Maryland.
Maryland Offers Strategic Location and Talent Pool
Maryland’s proximity to major finance hubs provides convenient access to Wall Street and global markets. The state also offers a skilled talent pool, with many graduates from acclaimed schools like Johns Hopkins University and the University of Maryland. Furthermore, Maryland provides tax incentives to support financial services firms and fosters partnerships between business and academia.
In summary, Maryland has emerged as a hub for the investment industry, with leading firms like T. Rowe Price, Legg Mason, Brown Advisory and Calvert Research and Management basing major operations in the state. These companies cumulatively manage over $2 trillion in assets from their Maryland offices.