Ann Shelton Named Chief Financial Officer of Principal Bank
October 12, 2007 (Des Moines, Iowa) — The Principal Financial Group® announces Ann Shelton has been named chief financial officer of Principal Bank. In this role, Shelton is responsible for asset-liability and interest-rate risk management for the bank, as well as all types of financial reporting.
"Ann's experience and active involvement in financial management and strategy development will be a valuable addition to the team" said Art Bacci, president of Principal Bank. "We look forward to her contributions as we focus on building strong business and client relationships by providing banking services that give customers an edge."
Before joining Principal Bank, Shelton served as chief financial officer of Wells Fargo Bank in Des Moines, Iowa. Her background includes serving in a variety of financial roles at Pella Corporation, Ernst & Young and Deloitte & Touche. Shelton earned her bachelor's degree at Iowa State University in Ames, Iowa and her master's degree from St. Ambrose University in Davenport, Iowa.
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.
For Questions About This Relase
See the Media Relations Contact List.
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 $282.1 billion in assets under management2 and serves some 18.1 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 June 30, 2007.
