Des Moines, Iowa (Oct. 8, 2002) -- In what it says is a move to reflect the increased global nature of its institutional asset management activities, financial services giant The Principal Financial Group has unveiled a new name for its asset management business.
The unit formerly known as Principal Capital Management LLC has been renamed Principal Global Investors.
"Principal Capital and its affiliates are now unified under a common name to better reflect our enhanced global investment capabilities, increased presence in global markets, unified mission and commitment to clients globally," said Jim McCaughan, global head of asset management, Principal Global Investors.
The Principal Financial Group has $119.6 billion in assets under management and serves 13 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States.
-- Electronic Accountant Newswire staff
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