Irene Scalfani Joins the Principal Financial Group in Retirement Distribution
March 4, 2008 (Des Moines, Iowa) — The Principal Financial Group®, one of the nation's 401(k) leaders1, announced the appointment of Irene Scalfani as director of the Alliance Management Group in the company's Retirement and Investor Services division.
A critical and growing part of distribution at The Principal®, the Retirement Alliance Management Group manages over 20 firm-level relationships with key investment broker-dealers, which collectively accounted for more than $3.8 billion in sales in 2007, for a total of more than $10 billion in assets under management. In addition to managing the retirement group, Scalfani will be part of a broader effort charged with creating new distribution relationships and expanding existing relationships.
"Irene brings many years of industry and alliance relationship experience to the table, which will prove valuable as we continue to expand and deepen our alliance presence," said Dan McGee, vice president and managing director, Retirement Distribution.
Prior to joining the company, Scalfani served as executive director-Business Development for Retirement and Equity Solutions at Morgan Stanley. In this role, she developed strategic alliance relationships in the corporate 401(k) market. Previously, she also served as vice president for U.S. Trust, and vice president, client relationship manager for Merrill Lynch.
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. A member of the Fortune 500, the Principal Financial Group has $311.1 billion in assets under management3 and serves some 18.6 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.
#1874022010
1) The Principal ranks number one in total plans for all asset sizes among fully bundled 401(k) providers-2006 Spectrem Group
analysis of fully-bundled 401(k) providers (companies that provide both administrative and investment services).
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 December 31, 2007.
