Principal Financial Group^® announced today its investment unit will be doing business as Principal Asset Management^SM as the company intensifies its focus on asset management. This name will highlight the firm’s deep, local knowledge, and global perspectives across all asset classes to help drive long-term investment outcomes for clients.

“Asset management is a core growth driver for Principal, adding significant value to the company both financially and strategically in our goal to provide holistic financial solutions,” said Dan Houston, chairman, president, and chief executive officer for Principal^®. “As markets mature and fluctuate, and demand for global investment solutions increases, Principal Asset Management is well positioned to help our clients achieve their financial goals.”

Principal Asset Management has been working to unify and strengthen its investment teams, processes, distribution model, and products to execute on a forward-looking strategy that reinforces its specialized investment expertise. The $507.1 billion¹ asset manager is leveraging talent, technology, and its global footprint to bring the firm’s public and private market capabilities together to best serve its diverse client-base, which includes more than 800 institutional, retirement, retail, and high net worth investors across more than 80 markets.

Resources have been devoted to building new products and alternative investment options such as model portfolios and direct lending, respectively. Strategic hires have been made to support growth initiatives like global wealth alternatives and liability driven investments. And the client experience is being transformed with a digital strategy that combines data analytics with market insights from Principal Asset Management investment experts to help clients optimize portfolios and to deepen their relationships.

“We’re building and strengthening relationships with investors in over 80 markets, aligning our growth strategy to their needs and the evolving market opportunities to solidify a consistent global identity,” said Kamal Bhatia, chief operating officer for Principal Asset Management. “Principal remains focused on identifying compelling opportunities by providing clear perspectives that are harnessed by the power of our diverse, local investment talent. A global asset management platform that brings deep, specialist capabilities will continue to actively unlock insights and opportunities for all our clients.”

Principal Asset Management also has a reimagined web experience to offer clients access to all its product offerings, unique thought capital, and timely market driven perspectives in one place – www.PrincipalAM.com.

About Principal Asset Management^SM

With public and private market capabilities across all asset classes, Principal Asset Management^SM and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 800 clients in over 80 markets worldwide. Principal Asset Management is the global investment solutions business for Principal Financial Group^® (Nasdaq: PFG), managing $507.1 billion in assets² and recognized as a Top 10 “Best Places to Work in Money Management³” for 10 consecutive years. Learn more at www.principalam.com.

About Principal Financial Group^®

Principal Financial Group^® (Nasdaq: PFG) is a global financial company with 18,500 employees⁴ passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 54 million customers⁵ plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal^® is proud to be recognized as one of America’s 100 Most Sustainable Companies⁶, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management⁷.” Learn more about Principal and our commitment to building a better future at principal.com.

© 2022 Principal Financial Services, Inc. Principal Asset Management^SM is a trade name of Principal Global Investors, LLC. Principal^®, Principal Financial Group^®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and services marks of Principal Financial Services, Inc., in various countries around the world.

¹ As of June 30, 2022

² As of June 30, 2022

³ Pensions & Investments, 2021

⁴ As of June 30, 2022

⁵ As of June 30, 2022

⁶ Barron’s, 2022

⁷ Pensions & Investments, 2021

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