is expanding his reach via a reorganization.
| Patrick G. "Pat" Halter|
Principal Asset Management
On Tuesday, Halter, president and CEO of Principal Asset Management
that Principal Financial Group
(the publicly traded multinational insurer that is Principal AM's parent) is integrating its international pension and global asset management businesses into Principal AM. Halter will continue to lead the expanded Principal AM, reporting to Principal Financial Group chief Dan Houston
(who is president, CEO, and chairman of the Des Moines, Iowa-based company).
Des Moines-based Halter also named eight key members of his Principal AM leadership team. They are:
New York City-based Kamal Bhatia (Principal AM's former chief operating officer), president and chairman of Principal Funds, and now head of global investments;
St. Paul, Minnesota-based Tim Hill (formerly executive director of the U.S. client group), now head of the U.S. and Europe client group;
Des Moines-based Ellen Shumay, head of global product and marketing;
Hong Kong-based Thomas Cheong, president of Asia;
Santiago, Chile-based Roberto Walker, president of Latin America;
Des Moines-based Todd Everett (formerly CEO of Principal AM's real estate arm), now global head of private markets;
St. Louis-based David Blake (formerly global head of fixed income for Principal AM), now global head of public markets; and
Seattle-based Todd Jablonski (formerly head of asset allocation), now global head of multi-asset investing.
"Asset management is a growth drive for Principal," Halter states. "Our clients expect us to combine our extensive global investment capabilities with local market expertise to continue to support their long-term investment and retirement needs. This integration will allow Principal to build on those capabilities to deliver for our clients, while maximizing the value of our integrated business model."
News of the reorganization comes four months after Principal FG rebranded
its asset management business as Principal Asset Management.
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