The Principal Financial Group Announces Rex Auyeung Named President, Principal Financial Group - Asia
February 24, 2010 (Des Moines, IA) - The Principal Financial Group® announced the promotion of Rex Auyeung to president, the Principal Financial Group - Asia and to senior vice president, the Principal Financial Group. The promotion is effective immediately. As the top executive in the Asian region, Auyeung represents The Principal® and its member companies across Asia, building and expanding the company's relationship with clients, joint venture partners and strategic investors, and assisting with business development across all product lines of The Principal. Based in Hong Kong, Auyeung will continue to lead the pension, asset accumulation and mutual funds businesses of Principal International, Inc. throughout Asia.
According to Larry D. Zimpleman, chairman, president and chief executive officer of The Principal, "This promotion reflects the strategic importance and business growth potential that the global market represents to the future of The Principal."
Auyeung joined the company in 1994. Previously he was a vice president, Group Insurance at AIA, a unit of AIG. Prior to joining AIA, he held various senior level positions in Canada with Aetna. Auyeung holds a degree in urban and town planning from the University of Waterloo, Canada.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) 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 $284.7 billion in assets under management and serves some 18.9 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.