T Rowe Price, the $1tn US asset manager, has hired Colin McQueen from UK outfit Sanlam Investments to take charge of a $10bn equity fund.

McQueen has worked at Sanlam Investments, the UK-based investment arm of South African financial services group Sanlam, for almost nine years. His most recent role was overseeing its global equity division and the management of two value-based global equity funds.