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

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

Rating:A $551B-AUM AM's Parent Stands Firm Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 01, 2021

A $551B-AUM AM's Parent Stands Firm

Reported by Neil Anderson, Managing Editor

A publicly traded insurer is standing by its $550.6-billion-AUM (as of March 31) asset management arm as one of several core business lines.

Patrick G. "Pat" Halter
Principal Global Investors
CEO
On Monday, Dan Houston (chairman, president, and CEO of Principal Financial Group), confirmed that the Des Moines, Iowa-based firm has wrapped up its four-month strategic review. One result of the review is that the Principal team is publicly committing to its global asset management business (i.e. Principal Global Investors) as one of three key growth areas where they will "invest and expand." (A second is Principal's retirement business.)

Meanwhile, Houston also unveiled plans to exit a pair of U.S. retail businesses (specifically fixed annuities and individual life insurance), potentially through divestments. He also unveiled further stock buyback plans.

The results of Principal's strategic review have already won the public praise of Mark Cicirelli, U.S. head of insurance for Elliott Investment Management. (Elliott is an activist hedge fund that is also a big shareholder of Principal.) 

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use