Business

T. Rowe Price Group Inc. is weighing its options as the asset manager grapples with the impact of economic sanctions on Russia after the country’s invasion of Ukraine. Baltimore-based T. Rowe Price (NASDAQ: TROW) has about $615.6 million in assets under management exposed to Russia as of Jan. 31, according to publicly available data about the company’s mutual funds. The company’s exposure to Russia comes through four mutual funds that invest in emerging markets, including one focused on Eastern Europe

Bubba Gump Shrimp Co. may no longer be a tenant at Baltimore’s beleaguered Harborplace but a year-old lawsuit with the property’s receiver is rolling on with a trial set for the fall. IVL Group LLC, which has served as the receiver for Harborplace for nearly three years, sued the operator and corporate owner of Bubba Gump in January 2021, charging they failed to pay $91,831 in monthly rent for two years.

A pair of commercial buildings in Howard County’s Elkridge corridor have traded to separate investors for a total of $5 million. Lutherville-based MacKenzie Commercial Real Estate Services brokered deals for an office property and an industrial building that both sit within 20 miles of Baltimore/Washington International Thurgood Marshall Airport. Recent data showed the commercial vacancy rate in the BWI corridor was 11.6% and the industrial vacancy rate was 8.4% at the end of 2021, MacKenzie officials said this week.

A new bank branch could be coming to a highly trafficked area of Howard County as JPMorgan Chase & Co. continues its expansion across Greater Baltimore. The New York-based financial giant filed an application with the Office of the Comptroller of the Currency in the U.S. Treasury Department on Feb. 17 seeking approval for a branch in Elkridge located at the southwest corner of Gateway Overlook Drive and Marie Curie Drive. If approved, it could become the first Chase branch to open in Howard County.

For the second time in two years, the Maryland Association of Certified Public Accountants will see its top executive step down. Jackie Brown will retire as president and CEO on June 30, the association announced Monday. Brown, a 42-year member of MACPA, assumed leadership of the organization last February after Tom Hood left for a position at the Association of International Certified Professional Accountants. Hood led MACPA for 24 years.

United Bankshares Inc. Chairman and CEO Richard Adams is set to move into an executive chairman role and cede the chief executive duties to his son, Richard Adams Jr. The move is part of a leadership reorganization that will end the elder Adams’ long tenure as the top exec at Greater Washington’s largest community bank. Effective April 1, Adams Jr., currently the president of the Vienna-headquartered bank, will become CEO and join the United’s board of directors. At the same time, James Consagra, the current COO, will move into the role of president.