The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Houston Consolidates Principal GAM Under One Chief Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 11, 2018

Houston Consolidates Principal GAM Under One Chief

Reported by Neil Anderson, Managing Editor

Dan Houston is consolidating Principal Financial Group's [profile asset management businesses worldwide and putting them under a single chief.

Timothy M. Dunbar
Principal Financial Group
President of Global Asset Management
Houston — chairman, president, and CEO of all of Principal — confirmed yesterday the ascension of Tim Dunbar to the newly created position of president of global asset management. Dunbar most recently served as executive vice president and chief investment officer of Principal.

Principal GAM encompasses four broad units: Principal Global Investors (which includes the Principal Funds mutual fund business, as well as 15 autonomous boutiques); Principal's general account; roboadvisor RobustWealth; and Principal International's investment operations. Combined, Principal GAM has $667 billion in AUM, including $430 billion under PGI alone.

Patrick G. Halter
Principal Global Investors
Meanwhile, PGI CEO Jim McCaughan stepped down from his role yesterday and will leave Principal on September 30. Pat Halter, chief operating officer of PGI, took over for McCaughan as CEO of PGI.

Houston lauds Dunbar for having "the right mix of investment expertise and leadership capabilities." And Houston praises Halter for his "operational skills, coupled with a deep understanding of the investment industry in a changing global environment." As for McCaughan, Houston describes the former PGI as being "instrumental in steering Principal's asset management strategy, building out our multi-boutique approach across a range of asset classes, and extending our reach to investment clients around the world."

James McCaughan
Principal Global Investors
former CEO
Dunbar most recently managed Principal's general account and RobustWealth efforts. An alumnus of Iowa State University, Dunbar joined Principal in 1986. While there he has worked in commercial real estate equities, at Principal International, and more.

McCaughan, an alumnus of the University of Cambridge, first joined Principal in 2002. Prior to that, he worked at Credit Suisse, Oppnenhemer Capital, and UBS.

Halter, an alumnus twice over of the University of Wisconsin, has spent 34 years at Principal. He rose to CEO of Principal Real Estate Investors in 2003, and in 2016 he became chief operating officer of all of PGI. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use