Principal Financial Group has combined the firm’s asset management and pension business, leading to a reshuffle within the leadership of the asset management arm.
The new structure will create combined regional teams across Asia and the Middle East, the United States and Europe, and Latin America. Patrick Halter will continue as the CEO and president of Principal AM, and report to Dan Houston, chair, president and CEO of Principal. His new leadership team includes Kamal Bhatia, who has been promoted to head of global investments after having previously worked as COO of the AM wing. He will also continue to serve as president and chair of Principal Funds. Investec Wealth & Investment CEO departs Meanwhile, Thomas Cheong has been appoin...
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