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Principal Financial shuffles leadership in global asset management business

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Principal Financial shuffles leadership in global asset management business

Principal Financial Group Inc. has promoted executive vice president and Chief Investment Officer Tim Dunbar to president of the global asset management business.

The company's global asset management business comprises all of its asset management capabilities including Principal Global Investors LLC, Principal International Inc., the General Account and RobustWealth Inc.

Pat Halter, COO of Principal Global Investors, was promoted to CEO of the division.

These changes are part of the succession for current Principal Global Investors CEO Jim McCaughan, who is stepping down, effective Sept. 10, and will depart the company Sept. 30.

In addition, Chief Risk Officer Julia Lawler was promoted to executive vice president, assuming responsibility for global security, business continuity, corporate real estate and aviation. These responsibilities are in addition to her management of enterprise risk and internal audit.