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Morley Financial Services Announces New Managing Director

Heath to lead sales, client services, and marketing team

December 13, 2010 (Portland, Oregon) - Morley Financial Services in Portland, Ore., announces Ron Heath will join Morley as its managing director - sales and marketing, effective Dec. 27, 2010. Morley is an affiliate of Principal Global Investors and member company of the Principal Financial Group®.

“We are very excited to have Ron re-join our organization,” said Tim Stumpff, president of Morley. “He has an excellent reputation in the industry and a proven ability to deliver high-quality stable value solutions and outstanding client service.”

Stumpff says Heath’s 17 years of stable value industry experience make him ideally suited to lead Morley's sales, client service, and marketing efforts.
“As an integral part of our management team, Ron will help us continue to deliver on our mission of providing top-tier stable value solutions,” Stumpff said.

“Expanding the Morley team with a professional of Ron’s caliber and coupling that with Morley's access to a variety of wrap capacity sources, illustrates our firm’s commitment to the business and to our clients,” he added.

Heath was formerly with Dwight Asset Management for ten years, most recently as senior vice president.  Prior to that, he was with Morley for seven years in a variety of roles, including portfolio manager. A native of Oregon, Heath earned his bachelor’s and MBA degrees from the University of Oregon.

About Morley Financial Services

Morley Financial Services is a leader in the stable fixed income industry, handling various aspects of stable value investing, including portfolio management, research, sales and service. Founded in 1982, the company oversees more than $14 billion[1] in assets for a diverse group of institutional clients, including leading banks, corporations, Taft-Hartley Funds and investment counselors across the United States. Morley offers collective funds through its affiliated trust company, Union Bond & Trust. Morley is a wholly-owned affiliate of the Principal Financial Group.

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 $284.7 billion in assets under management[1] 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.

About Principal Global Investors

Principal Global Investors is a diversified asset management organization and a member of the Principal Financial Group, with expertise in equities, fixed income and real estate investments, as well as specialized overlay and advisory services. Principal Global Investors manages $227.4 billion[1] in assets primarily for retirement plans and other institutional clients.

[1]
As of Sept. 30, 2010.
[2]
The Principal Financial Group and The Principal are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

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