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Principal changes name of investment unit to signal asset management focus


Principal Financial Group announced Monday its investment unit will do business as Principal Asset Management as the company strengthens its focus on asset management. “Asset management is a core growth driver for Principal, adding significant value to the company both financially and strategically in our goal to provide holistic financial solutions,” said Dan Houston, chairman, president and chief executive officer of Principal. “As markets mature and fluctuate, and demand for global investment solutions increases, Principal Asset Management is well positioned to help our clients achieve their financial goals.” The $507.1 billion asset manager has directed resources to building new products and alternative investment options such as model portfolios and direct lending, respectively. “We’re building and strengthening relationships with investors in over 80 markets, aligning our growth strategy to their needs and the evolving market opportunities to solidify a consistent global identity,” said Kamal Bhatia, chief operating officer for Principal Asset Management. The unit has also redesigned its website.

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