T. Rowe Price (NASDAQ: TROW) announced that Bill Cashel has joined the firm as Head of Alternatives for U.S. Wealth, according to a company statement.

In his new role, Cashel will work with sales teams to identify business opportunities with wealth advisors in T. Rowe Price's intermediary distribution channel. He will be responsible for delivering alternative and private market investment capabilities from both T. Rowe Price and Oak Hill Advisors, the alternative credit investment specialist that became part of T. Rowe Price in 2021.

Cashel will collaborate with senior leaders across T. Rowe Price and Oak Hill Advisors to represent the client perspective in alternative product development. He will help deliver public and private market solutions for retirement and wealth investors, including products from T. Rowe Price's strategic alliance with Goldman Sachs Asset Management.

"Alternative investments can be an integral and complementary element of a diversified portfolio, with enhanced risk management and potential for improved long-term investment returns," said Kevin Collins, head of U.S. Intermediaries.

T. Rowe Price plans to expand its alternatives distribution team in the coming months to support these capabilities within the wealth segment.

Cashel previously served as a partner at AQR Capital Management, where he led distribution in the wealth channel. He later co-founded Privacore Capital, a platform distributing third-party private market solutions. Cashel holds an MBA from Pepperdine University and maintains Series 7, 66, 63 and 24 registrations.

T. Rowe Price manages $1.80 trillion in client assets as of February 28, 2026, with approximately two-thirds being retirement-related, according to the company statement.