A Putnam C-Suite Alum Joins a Fund Firm's Parent's Board
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Friday, June 5, 2020

A Putnam C-Suite Alum Joins a Fund Firm's Parent's Board

A alumna of a large mutual fund firm's board recently joined the board of another fund firm's publicly traded parent.

Clare Stack Richer
Principal Financial Group
Board Member
On May 26, Clare Richer started as a board member for Des Moines, Iowa-based Principal Financial Group (parent of asset management Principal Global Investors, i.e. PGI).

Richer already serves on the boards of a publicly traded BDC, Bain Capital Specialty Finance, and of an ETF family, the State Street Global Advisors SPDR ETF Mutual Funds Board. She is also a trustee of the University of Notre Dame. (She serve's on the university's board's Compensation, Investment, Finance, and Audit Committee. She is also a board member of the Alzheimer's Association MA/NH chapter.

Dan Houston, chairman, president and CEO of Principal, said "Clare is a valuable addition to our Board having spent more than 35 years in our industry with significant time spent leading business lines, operations, and finance teams."

Richer previously served as chief financial officer of Putnam Investments, before retiring in 2017 after nine years with the fund firm. Prior, she occupied finance, operations, and P&L leadership roles at Fidelity Investments, including being the CFO and the executive vice president of the Fidelity Management and Research Company.

"[Richer's] extensive experience in the boardroom today and in the C-suite previously will help guide our business strategies to create long-term value for our customers and shareholders during an important time in our company’s history," said Houston.

Eleven directors , including the chairman, comprise Principal's Board. The Board meets quarterly, as well as once a year with Principal management as part of a strategy retreat. Richer will serve on the Audit and HR committees of the Board of Directors.

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