Principal Global Investors, a global asset manager and member of the Principal Financial Group [profile], has hired Joshua Rank as high yield fixed income PM and Matt Hanson senior high yield analyst for Principal Global Fixed Income.

Both join the high yield team led by PMs Mark Denkinger and Darrin Smith, who oversee $7 billion in high yield assets. Rank will be responsible for PM and investment strategy, along with relationship management, while Hanson will be responsible for analysis of the high yield energy sector.

�We welcome Josh and Matt to their new roles and look forward to their contributions to the high yield team,� stated David Blake, global head of fixed income & chief investment officer at Principal Global Investors. �Josh�s strength as a fixed income portfolio manager is evident in his experience leading successful high yield strategies, and Matt�s analyst experience and previous employment with Principal Global Investors make him a great fit. Both will be an asset in growing our client base and bolstering our investment strategy.�

Both Rank and Hanson join Principal Global Investors from Aviva Investors North America, where Rank was vice president, senior portfolio manager � high yield, and Hanson was senior securities analyst for high yield and investment grade.

Here is the press release:

Company Press Release
Principal Global Investors Announces New High Yield Portfolio Manager, Analyst
Joshua Rank and Matt Hanson join Principal Global Fixed Income

DES MOINES, Iowa--Principal Global Investors, LLC, a leading global asset manager and a member of the Principal Financial Group� (NYSE:PFG), announces Joshua Rank has been named high yield fixed income portfolio manager and Matt Hanson senior high yield analyst for Principal Global Fixed Income.

Both join the high yield team led by portfolio managers Mark Denkinger and Darrin Smith, who oversee $7 billion in high yield assets. Rank will be responsible for portfolio management and investment strategy, along with relationship management, while Hanson will be responsible for analysis of the high yield energy sector.

�We welcome Josh and Matt to their new roles and look forward to their contributions to the high yield team,� said David Blake, Global Head of Fixed Income & Chief Investment Officer at Principal Global Investors. �Josh�s strength as a fixed income portfolio manager is evident in his experience leading successful high yield strategies, and Matt�s analyst experience and previous employment with Principal Global Investors make him a great fit. Both will be an asset in growing our client base and bolstering our investment strategy.�

Both Rank and Hanson join Principal Global Investors from Aviva Investors North America, where Rank was vice president, senior portfolio manager � high yield, and Hanson was senior securities analyst for high yield and investment grade. Prior to Aviva, Rank worked as a fixed income analyst at Aegon USA Investment Management. He is a graduate of Iowa State University and holds the Chartered Financial Analyst designation. Hanson graduated from the University of Northern Iowa, and earned a Masters of Business Administration from the University of Iowa. He also holds the Chartered Financial Analyst designation.

About Principal Global Investors

Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group�, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $292.4 billion in assets1 primarily for retirement plans and other institutional clients2.

About the Principal Financial Group

The Principal Financial Group� (The Principal�)3 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500�, the Principal Financial Group has $456.1 billion in assets under management4 and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

1 As of March 31, 2013.

2 Principal Global Investors is the asset management arm of the Principal Financial Group � (The Principal �)3 and includes the asset management operations of the following subsidiaries of The Principal: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Enterprise Capital, LLC; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Columbus Circle Investors; Edge Asset Management, Inc.; Morley Financial Services Inc.; Finisterre Capital, LLP; Origin Asset Management LLP; Principal Global Investors (Europe) Limited; Principal Global Investors (Singapore) Ltd.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Global Investors (Hong Kong) Ltd.; CIMB-Principal Islamic Asset Management Sdn. Bhd.; and the majority owned affiliates of Principal International, Inc. Assets under management includes; assets managed by investment professionals of Principal Global Investors under dual employee arrangements with other subsidiaries of The Principal and assets managed in accordance with investment advice provided by Principal Global Investors through the delivery of a model.

3 �The Principal Financial Group� and �The Principal� are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

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