From managing portfolios to leading a firm

When Eric Veiel (’94) was asked to step away from portfolio management and move into a leadership role, it was not something he envisioned in his career.

“I really don’t want to do that,” he recalled thinking at the time.

He accepted the opportunity anyway, with the caveat that if he didn’t like it he could return to portfolio management. Years later, that decision led him to his recently appointed role as president of T. Rowe Price, where he also serves as co-head of Global Investments and chief investment officer.

Veiel’s path began in the College of Business, where he studied finance and was part of the Honors College. His two older sisters had also attended JMU, so he was already familiar with the university and was drawn to its size, location and sense of community.

During his time on campus, he started to narrow down what path he wanted to take and developed an interest in investing. His honors thesis focused on student-managed investment funds, an emerging concept at the time, which ultimately helped him see how his personal interests could translate into a career. 

After graduating in 1994, Veiel started his career as an equity research analyst and joined T. Rowe Price in 2005. Like many in the field, his initial goal was straightforward. “I really wanted to be a portfolio manager,” he said.

He reached that goal early in his career, but change was on the horizon. The pivotal moment, he said, was when he was asked to become a director of research and oversee the team.  While hesitant at first, he accepted after several conversations, sending himself on a different path within the company.

“I went from managing a portfolio of stocks to managing a portfolio of people,” he said.

Now, less than a month into his appointment, Veiel is helping guide the company’s strategy and drive change across the global investment firm. His focus is centered on how the organization delivers on its priorities and how teams work together to deliver results. 

“This role is really about the how more than the what,” he explained. “I think we have a good plan, but it’s just that—a plan. They don’t matter if you can’t deliver on them.”

Veiel said he’s working to lead through change, do things differently and “break down some traditional barriers and silos that build up in an organization through time.” 

As his responsibilities have grown, Veiel said his approach to leadership has shifted with them. Early in his career, it was easy to move quickly and focus on the work in front of him. Over time, he’s learned the importance of stepping back, listening and understanding the bigger picture before acting.

That perspective also shapes the advice Veiel offers current JMU students. While technical knowledge is important, he believes strong communication skills and the ability to build genuine relationships are what often set people apart.

“The real differentiator comes in how you present yourself and how you present your ideas,” he said.

He also encourages students to start building their professional networks early, something he wishes he invested more time in at the start of his own career.

Looking back, Veiel’s journey from a JMU finance student to president of T. Rowe Price was shaped by a willingness to embrace unexpected opportunities, continue learning and lead authentically. Those lessons, he said, remain just as relevant for today’s students as they begin charting their own paths forward.