Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Principal Funds Shifts Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, February 27, 2015

Principal Funds Shifts

Reported by Neil Anderson, Managing Editor

The Principal's [profile] mutual fund business is moving, at least organizationally. And the insurer's distribution efforts for mutual funds and other products are transforming, too.

Dan Houston, president and chief operating officer at the insurance giant, confirms that Principal Funds and Principal Trust are being combined with Principal Global Investors. Jim McCaughan will continue to serve as president of PGI, and Principal Funds vice president and COO Mike Beer will become president and CEO of Principal Funds.

Principal Funds and Principal Trust had both part of the retirement and investor services division. Nora Everett, formerly president and CEO of Principal Funds, will take over as president of RIS, though she will remain chairman of Principal Funds. The Principal's other two main business units are U.S. insurance solutions, led by Deanna Strable, and Principal International, led by Luis Valdes. Everett, McCaughan, Strable, and Valdes all report to Houston.

The Principal's distribution is reorganizing, too.

"We used to have distribution all centralized," Principal spokeswoman Susan Houser tells MFWire. "Now it's being moved to the business units."

"These changes will accelerate our growth going forward, enabling us to more rapidly expand our investment platform and more effectively distribute solutions to retail, retirement and institutional investors worldwide," Houston states.

Tim Minard, who previously served as senior vice president of distribution for all of the Principal, will now lead U.S. distribution for PGI. Andrea Muller will lead international distribution for PGI. Doug Grove, who previously reported to Minard, will full service accumulation (i.e. the Principal's bundled retirement plan business) distribution and report to FSA chief Greg Burrows within RIS. And Nick Cecere will lead distribution for U.S. insurance solutions. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use