Principal Global Investors Expands Institutional Sales Team
Oct. 2, 2006 (Des Moines, Iowa) — Principal Global Investors today announced the appointment of Eric P. Lareau as director—institutional sales. Lareau will be responsible for the institutional sales and marketing efforts of Principal Global Investors in the southeast region of the U.S. Principal Global Investors is a diversified asset management organization with world-class investment expertise in fixed income, equities and real estate.
"I am pleased Eric is joining our institutional sales and marketing team, as we step up our efforts to reach out to large institutional investors nationwide," said Patrick J. Mc Nelis, executive director – institutional advisory services. "Institutional investors with assets in excess of $250 million are particularly receptive to our best-in-class equity, fixed income and real estate offerings, and expanding our sales coverage of these investors will be key to our continuing to grow assets under management. Lareau’s skills, experience and the strong relationships he has built over the last 14 years combine to make him an outstanding addition to our sales organization as we pursue our enhanced sales strategy."
Lareau comes to Principal Global Investors from Merrill Lynch Investment Management, where he served as director of institutional sales. During his time with Merrill Lynch, he served in a variety of institutional marketing and sales roles, which included marketing to plan sponsors in the corporate, foundation and endowment, Taft-Hartley and public funds spaces, as well as venture capital firms and high net worth individuals. Lareau began his career with Putnam Investments. Lareau received a BS in business and economics from Merrimack College and has the NASD Series 7, 6 and 63 designations.
About Principal Global Investors
Principal Global Investors is a diversified asset management organization and a wholly-owned subsidiary of Principal Financial Group, Inc., with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $168.8 billion in assets primarily for retirement plans and other institutional clients. 1
About the Principal Financial Group
The Principal Financial Group® (The Principal®)2 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206 billion in assets under management3 and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issued by Principal Life Insurance Company
1) As of June 30, 2006. Principal Global Investors is the asset management arm of the Principal Financial Group® (The Principal®), and includes the global asset management operations of the following members of The Principal Financial Group: Principal Global Investors, LLC (PGI, LLC), some (but not all) U.S. and foreign advisory affiliates of PGI, LLC, and Principal International, Inc. (over which PGI, LLC has no direct or indirect control), including all of its subsidiaries and affiliates, including minority interests in joint ventures over which PGI, LLC has no direct or indirect control.
2) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
3) As of June 30, 2006.
