Principal Financial Group Inc. announced yesterday that Ellen Lamale, senior vice president and chief risk officer, will retire in early 2011 after more than 34 years with the company.

Lamale joined Principal in 1976 and was named to her current position in 2008. Greg Elming, currently senior vice president and controller, will take over Lamale’s position.

Angie Sanders, currently the chief accounting officer, has been promoted to vice president and controller.

In a separate move, Tim Dunbar, currently executive director for Principal Global Investors LLC, is being promoted to senior vice president, strategy and finance for Principal Financial.