Principal Financial Group has announced the retirement of Roberto Walker, who served as president of Principal Latin America for more than 12 years. Luis Valdés, former president of Principal International, will rejoin the company on an interim basis as chairman of Latin America until the company appoints Walker’s successor. Valdés will report to Pat Halter, president of Principal Asset Management. During Walker’s tenure as president, assets under management in the region grew from $33 billion in 2010 to $125 billion in 2022, and he was instrumental in expanding and building the region’s asset management capabilities. Valdés previously worked for the company for 26 years, leading the business for nine of those years.