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TMCNet:  The Principal Financial Group Announces Executive Leadership Changes

[December 05, 2012]

The Principal Financial Group Announces Executive Leadership Changes

DES MOINES, Iowa --(Business Wire)--

The Principal Financial Group® announces that Julia Lawler, currently senior vice president and chief investment officer (CIO) at The Principal®, will become senior vice president - Investment Services. Tim Dunbar, currently senior vice president - Strategy and Finance, will replace Lawler as senior vice president and chief investment officer. The changes are effective in January 2013.

"These senior leadership changes reflect The Principal's continued growth as a global investment management leader. As an early adopter of open investment architecture and a multi-manager investment platform, today in the U.S. we offer retirement clients investments from Principal Global Investors and 44 outside sub-advisory firms," says Larry D. Zimpleman, chairman, president and chief executive officer of The Principal. "Given the extensive growth of The Principal globally, our international businesses require similar rigor around the management of external investment firms in all the countries where we do business. This is an ideal time to build on the experiences of our strong senior management team and shift responsibilities accordingly."

In Lawler's new role, she wil oversee The Principal retirement and mutual fund investment platform for our clients across all outside asset managers both domestically and globally. Her responsibilities will include global investment performance monitoring, measurement and reporting, and maintaining relationships with outside managers and our proprietary investment manager, Principal Global Investors.

Lawler joined The Principal in 1984 as a commercial real estate representative and was promoted in various real estate and senior equity roles. She also served as head of Capital Markets before moving into the CIO role.

Dunbar will continue to oversee Capital Markets at The Principal, and will replace Lawler in the chief investment officer role. He will oversee the strategic allocation of the General Account and chair the company's Investment Committee. Dunbar joined the company in 1986 as an asset manager representative. He also has served in a number of roles throughout the company including Commercial Real Estate, equity management, and member of the global management team for Principal International in Monterrey, Mexico. He was appointed to head Capital Markets, Corporate Strategy and Corporate Treasury areas in 2011.

Dennis Menken, portfolio manager, will be promoted to vice president and portfolio manager for the organization's General Account. He will be responsible for managing the multi-sector insurance portfolios for Principal Life Insurance Company. Menken joined The Principal in 1994. Prior to his current role, he was a portfolio manager for the corporate segment. He also has served as an auditor at Deloitte (News - Alert) & Touche. He is a Chartered Financial Analyst and Certified Public Accountant.

For more news and insights from The Principal, connect with us on Twitter (News - Alert) at http://twitter.com/ThePrincipal.

About the Principal Financial Group

The Principal Financial Group® (The Principal ®)1 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services through its diverse family of companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $392.2 billion in assets under management2 and serves some 18.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

1 "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

2 As of September 30, 2012.


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