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Principal Splits Control Over Distribution

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NU Online News Service, Dec. 3, 2003, 12:45 p.m. EST – Principal Financial Group Inc., New York, says Michael Daley, the company’s executive vice president for marketing and distribution, will be leaving the company.[@@]

The company also says it is giving its insurance and financial services division, its retirement and investor services division, and its global investors division control over their own distribution.

One combined distribution unit has been serving all three divisions.

James McCaughan will continue to be president of the global investors division, Principal says.

John Aschenbrenner will be president of insurance and financial services, and Larry Zimpleman will be president of retirement and investor services.


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