Press release
Principal announces new head of Global Asset Management
Tim Dunbar to retire after 34 years DES MOINES, Iowa--(BUSINESS WIRE)-- Principal Financial Group® today announced Pat Halter, chief executive officer and
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nTim Dunbar to retire after 34 years\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® today announced Pat Halter, chief executive officer and president of Principal Global Investors, is being promoted to president of Principal Global Asset Management, responsible for strategy across the total company’s $701.8 billion1 of assets under management (AUM) in our global asset management businesses, which include Principal Global Investors, Principal International investment operations2, and the company’s General Account. He will continue to serve as the CEO for Principal Global Investors, which manages $450.1 billion1 in assets in more than 80 countries. Leadership changes follow the decision of Tim Dunbar, president, Principal Global Asset Management, to retire at the end of the year, after 34 years with the company.\n\nKamal Bhatia, president of Principal Funds, is promoted to chief operating officer for Principal Global Investors. Organizational changes allow for continued alignment of global investment capabilities and infrastructure across Principal to better serve all its asset management customers. Halter and Bhatia will assume their new responsibilities on Nov. 7, 2020 and fully transition following Dunbar’s departure.\n\n“Pat has a proven track record leading our global investment business and is well prepared to help us expand our investment customer base and build upon our position as a leading global asset manager,” said Dan Houston, chairman, president and chief executive officer of Principal. “He’s also played a pivotal role in bringing the right people and investment expertise together, and combined with Kamal’s insights, global experience and fresh perspective, I’m confident in this team’s ability to continue to help more people around the world with their investment needs.”\n\nIn Halter’s new role, he will be responsible for strategy and supporting investment process services across the Global Asset Management businesses, continuing the joint vision developed with Dunbar. Halter will bring additional focus on broadening asset management offerings and solutions around the world, and expanding Principal’s client base across additional markets, customer segments and distribution channels. He will report to Houston. Halter’s career at Principal has spanned more than 36 years, having a proven track reco...