The Principal Names Art Bacci President of Principal Bank
July 17, 2007 (Des Moines, Iowa) — The Principal Financial Group® announces Art Bacci has been named president of Principal Bank. Bacci currently serves as president and CEO of Principal Trust Company in Wilmington, Del., and will continue in this role in addition to his banking responsibilities. Bacci takes over for Barrie Christman as she transitions into her new role as vice president, Individual Investor Segment of Retirement and Investor Services. Christman will continue as chairman and CEO of Principal Bank, and as chairman of Principal Trust Company.
"I have worked with Art for over two years and know him to be a strong leader, engaged developer of people and an excellent strategist," said Christman. "Art brings knowledge of The Principal® that will provide immediate benefit to his new role."
Before joining The Principal in 2002, Bacci served as president and chief operating officer of Ashton Technology Group, a publicly-traded technology company that developed and operated electronic trading and intelligent matching systems for the financial securities industry. His banking background includes serving in a variety of senior management roles at financial institutions owned by William E. Simon & Sons, where he also dealt exclusively with all of the thrift merger and acquisition activities.
Photo available upon request.
About Principal Bank
Principal Bank, a member of the Principal Financial Group®, is an FDIC-insured federal savings bank, offering customers traditional and innovative banking products and services through the Internet, telephone personal bankers (available 24 hours a day, 365 days a year), U.S. mail and a nationwide network of ATMs.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 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 $270.1 billion in assets under management2 and serves some 17.6 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.
1) "The Principal Financial Group" and "The Principal" are registered trademarks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of March 31, 2007
