Trustar Retirement Services Announces New President and Chief Executive Officer
Oct. 14, 2005 (Wilmington, Delaware) — Trustar Retirement Services, a leading provider of retirement plan services and a member company of the Principal Financial Group®, is pleased to announce that Art Bacci has been promoted to president and chief executive officer of Trustar Retirement Services.
Bacci joined Trustar in 2002 as vice president and chief financial officer, responsible for the financial, legal, infrastructure, and trust service activities. In this role, he spearheaded the effort to expand Trustar's trust company capabilities and services.
Prior to joining the leadership team at Trustar in 2002, Bacci served as chief financial officer and then president and chief operating officer of The Ashton Technology Group. Bacci also served on the Board of Directors for Ashton Technology, a developer of electronic trading and global financial securities systems.
Bacci previously held management positions with William E. Simon & Sons and its affiliates, where he was actively involved in mergers, acquisitions and capital transactions totaling over $700 million. During this period, he also served as the chief financial officer for several financial institutions owned by The Simon Group.
Bacci received his master's in business administration from the Leavy School of Business at the University of Santa Clara and a bachelor's of science in Finance from San Jose State University.
About Trustar Retirement Services
Trustar Retirement Services, employs 95 employees, and is among the largest non-deposit trust companies in the country, serving as trustee to more than 260,000 tax-advantaged savings accounts holding in excess of $30 billion in assets. Over the past 27 years we've expanded our product line-up beyond our roots in the traditional IRA market to nearly all tax-advantaged savings accounts. For more information visit www.trustar-rs.com.
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. A member of the Fortune 500, the Principal Financial Group has $187.8 billion in assets under management2 and serves some 15.2 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 service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2) As of June 30, 2005.
