Principal Financial Group Inc. on Tuesday announced several senior leadership and structural changes which it said are aimed at better aligning its businesses, distribution teams and product offerings for future growth.

The structural changes bring together most of Principal’s investment professionals – combining Principal Funds and Principal Trust, formerly under the company’s Retirement & Investor Services segment – with Principal Global Investors, led by Jim McCaughan, president of Principal Global Investors. Additionally, distribution teams will align with and report into each operating segment.

“Since 2001, when the Principal became a public company, 

Deanna Strable

we’ve transformed into a global leader in retirement and investment management, more than quadrupling our assets under management to over a half trillion dollars,” Daniel Houston, president and chief operating officer, said in a release. “That growth has been driven by strong performance of our long-term investment strategies across asset classes and our unique retirement income solutions.

“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 said.

Nora Everett

Other changes include the promotion of Nora Everett, formerly president & CEO of Principal Funds, to president of Retirement & Investor Services. Everett will remain chairman of Principal Funds. Also, Deanna Strable is promoted to president of U.S. Insurance Solutions, which she will continue to lead.
 

“Under the new leadership structure, with Jim McCaughan (Principal Global Investors), Luis Valdès (Principal International), Nora Everett (Retirement & Investor Services) and Deanna Strable (U.S. Insurance Solutions), we remain well-positioned to execute our global growth strategy and create long-term value for our shareholders,” Houston said.

Ralph Eucher

Other senior leader promotions include Amy Friedrich as senior vice president-specialty benefits, Greg Linde as senior vice president-individual life, and Dennis Menken, senior vice president and chief investment officer of the gene ral account.