Richard R. Verma, former U.S. Ambassador to India and current Mastercard executive has joined leading global asset management firm T. Rowe Price Group’s board as an independent director.
Verma’s appointment to the board was announced with Allan Golston president of the United States Program at the Gates Foundation, a private organization dedicated to advancing initiatives in education, global health, and community development.
Verma, the first Indian American to serve as United States ambassador to India from 2014 to 2017, is currently the chief administrative officer for Mastercard Incorporated, an American multinational financial services corporation.
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Previously, he served as the deputy secretary of state for management and resources, the general counsel and head of global public policy at Mastercard, the vice chairman and a partner at The Asia Group.
Verma is also a veteran of the U.S. Air Force, where he served on active duty as a judge advocate.
He holds a doctorate in international relations from Georgetown University; a law degree from American University; a master of law, with distinction in international law, from Georgetown University Law Center; and a bachelor of science from Lehigh University.
Verma previously served on the company’s Board of Directors from 2018 until 2023, when he was appointed deputy secretary of state for management and resources.
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“We are pleased to welcome Allan and Rich as independent directors. Allan brings a distinguished track record of leadership and expertise spanning the global health, education, and financial sectors,” said Rob Sharps, chair, chief executive officer and president of T. Rowe Price Group.
“Rich is returning to our Board after time in government and adds valuable global perspectives drawn from his broad experience in public policy, business, and international affairs,” he said. “Their knowledge and insights will be instrumental in supporting our ongoing growth and success, and we look forward to their thoughtful counsel and contributions.”
Rowe Price is a leading global asset management firm, entrusted with managing $1.77 trillion in client assets as of Sep. 30, 2025, about two-thirds of which are retirement-related.