Paul Massaro is head of the Global High Yield team and chief investment officer and the portfolio manager of the Floating Rate Bank Loan Strategy in the Fixed Income Division. He is President of the Investment Advisory Committee for the High Yield Funds, Inc., and an executive vice president of the Institutional Income Funds, and a member of the Investment Advisory Committee of the High Yield Multi-Sector Fund. Paul also is a member of the Fixed Income Steering Committee. He is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., and T. Rowe Price Trust Company.

Paul's investment experience began in 2000, and he has been with T. Rowe Price since 2003, beginning as a credit analyst covering wireless services, broadcasting, and consumer and forest products in the Fixed Income Division. In 2008, he helped launch the Floating Rate Bank Loan Strategy, and in 2013, he assumed full portfolio management responsibility. Prior to T. Rowe Price, Paul was employed by Banc of America Securities in the area of equity research. He also was employed by J.P. Morgan Chase, specializing in credit research.

Paul earned a B.S. in business management from Cornell University and an M.B.A. in finance and strategic management from the University of Pennsylvania, The Wharton School. Paul also has earned the Chartered Financial Analyst^® designation.

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