Company Leaders

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Larry Zimpleman, Chairman, President and Chief Executive Officer

Larry D. Zimpleman is chairman, president and chief executive officer of the Principal Financial Group^®. He is responsible for overall management of the company.

Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 1997 he served in various management and leadership positions at the officer level in the pension department. He was named vice president in 1997, senior vice president in 1999, executive vice president in 2001, president of Retirement and Investor Services in 2003 and president and chief operating officer in 2006. He was named to president and chief executive officer in 2008 and to his current position in 2009.

Zimpleman is the chairman for the Greater Des Moines Partnership. He currently serves as a member of the Board of Trustees for Drake University. He also serves on the Financial Services Roundtable Board & Executive Committee; on the board of the American Council of Life Insurers (ACLI), the ACLI Executive Committee, ex officio and additionally serves as chair of the ACLI Retirement & Financial Security Steering Committee. He is Fellow of the Society of Actuaries and an Enrolled Actuary. Additionally, he is a member of: American Academy of Actuaries, Iowa Actuaries Club, Iowa Business Council and Business Roundtable.

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Daniel J. Houston, President, Retirement, Insurance and Financial Services

Daniel J. Houston is president, Retirement, Insurance and Financial Services with the Principal Financial Group^®. He is responsible for the company’s U.S. asset accumulation businesses, including Full Service Accumulation, Principal Bank, mutual funds and annuity lines of business. He’s also responsible for the company’s U.S. Insurance Solutions businesses, including Individual Life and Specialty Benefits, as well as, distribution channels supporting all units.

Houston joined the company in 1984 as a group representative in the Dallas group and pension office. He was promoted to senior group and pension representative in 1986, and named group and pension consultant in 1988. He was elected an officer and named regional director of group and pension sales in 1990 and promoted to regional vice president in 1993, to vice president in 1997, and to senior vice president in 2000. He was named executive vice president in 2006 and president in 2008.

Houston is a member of several boards, including Catalyst Health Solutions (CHSI), United Way of Central Iowa, Mercy Medical Center, Employee Benefits Research Institute (EBRI), America’s Health Insurance Plans (AHIP), Iowa State University Business School Dean’s Advisory Council, Morley Financial Services, Principal Financial Advisors, Principal Trust Company (Asia) Limited, Principal International, BrasilPrev, Principal Bank and Principal Global Services Private Limited.

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James P. McCaughan, President, Principal Global Investors

James P. McCaughan is president, global asset management, and chief executive officer of Principal Global Investors. McCaughan oversees all global asset management activities, including developing global strategies and identifying and analyzing market opportunities.

McCaughan has 33 years of experience in the investment business and nine years at The Principal. Before 2002 he was the CEO of the Americas division of Credit Suisse Asset Management, New York, NY. Prior to Credit Suisse, he was president and chief operating officer of Oppenheimer Capital in New York. McCaughan is a Fellow of the Institute of Actuaries, and a graduate from Cambridge in Mathematics.

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Luis Valdés, President, Principal International

Luis Valdés is president & CEO, Principal International. He is responsible for managing businesses of The Principal^® outside the United States in the company’s international asset management and accumulation segment.

Valdés joined The Principal^® in 1994. Previously he was managing director of BanRenta Compañía de Seguros de Vida, which was purchased by Principal International to become Principal Vida Chile. Prior to BanRenta, he was an insurance market consultant for The World Bank, Intendente de Seguros (Insurance Commissioner) in Chile.

Valdés serves on the boards of BrasilPrev Seguros & Previdencia (Brazil), Principal International (Chile) and Principal AFORE and Principal Life (Mexico).

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Karen E. Shaff, Executive Vice President - General Counsel

Karen Shaff is the executive vice president and general counsel for Principal Financial Group, Inc. She was elected to this position in 2004.

Prior to working at The Principal^®, Shaff was an associate with the law firm of Austin and Gaudineer from July 1979 through February 1982.

She holds a law degree from Drake University Law School. Shaff obtained her B.A. from Northwestern University in Political Science.

Shaff is Past President of the Association of Life Insurance Counsel, a member of the American, Iowa State and Polk County Bar Associations, the Association of Corporate Counsel and a past member of the Iowa State Bar Association Committee on Professional Ethics and Conduct and the Iowa State Bar Association Board of Governors. She is a director of GuideOne Mutual Insurance Company and GuideOne Specialty Mutual Insurance Company. Shaff is also a member of the Animal Rescue League of Iowa Advisory Council and a trustee of Grinnell College.

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Rex Auyeung, Senior Vice President and President, Principal Financial Group - Asia

Rex Auyeung is president of Principal International (Asia) based in Hong Kong and senior vice president of the Principal Financial Group^®.

Auyeung has worked in the insurance industry in Canada and Hong Kong for more than 30 years. He joined The Principal^® in 1994. In his role, he represents The Principal^® and its member companies across Asia, building and expanding the company’s relationships with clients, joint venture partners and strategic investors. He also assists with business development across all product lines of the company. Additionally, he is responsible for the overall Principal International business in markets including India, China, Hong Kong, Malaysia and other subsidiaries of the Malaysian company in Singapore, Indonesia and Thailand.

Auyeung is the Co-Chairman of the Corporate & Employee Contribution Programme (CECP) Organising Committee and a member of Campaign Committee and the Investment Sub-committee of the Community Chest of Hong Kong. He is also a Council member of the City University of Hong Kong, a member of the City University Finance Committee and Trustee Committee and a member of the Corporate Advisory Board for the Finance Department of the Hong Kong University of Science and Technology. He is a member of the Public Affairs Forum of the Home Affairs Bureau HK SAR Government. He is an Independent Non-Council Member of The Hong Kong Polytechnic University Investment Committee.

Auyeung holds a bachelor’s degree in urban & town planning from the University of Waterloo.

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Ned A. Burmeister, Senior Vice President and Chief Operating Officer, Principal International

Ned Burmeister is senior vice president of the Principal Financial Group^® and senior vice president and chief operating officer of Principal International, Inc. He is responsible for finance, planning operations outside the United States for the company’s international asset management and accumulation segment.

Burmeister serves on the boards of CIMB- Principal Asset Management (Malaysia), Principal International (Asia) Limited (Hong Kong) and Principal International, Inc., and is a member of the Society of Actuaries and the American Academy of Actuaries.

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Gregory J. Burrows, Senior Vice President, Retirement and Investor Services

Gregory J. Burrows is senior vice president, Retirement and Investor Services with the Principal Financial Group^®.

Burrows joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales and elected an officer. From 1994-1996, he was president and CEO of AHP, a former company subsidiary. Burrows served as the managing director of Principal International’s Argentina operation from 1996-1999 and Japan operation from 1999-2001. He returned to Des Moines, Iowa, in 2001 as the Retirement and Investor Services chief marketing officer, where his responsibilities included merger and acquisition oversight. In 2007, he assumed the role of vice president and managing director, Retirement and Investor Services and was named senior vice president, Retirement and Investor Services in 2008.

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Timothy M. Dunbar, Senior Vice President and Chief Investment Officer

Timothy M. Dunbar is senior vice president and chief investment officer of the Principal Financial Group^®.

Dunbar joined the company in 1986 as an asset manager representative. He was elected an officer and named assistant director, Commercial Real Estate Equities in 1994; appointed director, Management for Principal International, in 1997. He was elected second vice president, Mergers and Acquisitions in 2003. He was appointed the executive director and head of equities for Principal Global Investors in 2004. In 2011 he was named senior vice president, Strategy and Finance, and started his current role in 2012.

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Gregory B. Elming, Senior Vice President and Chief Risk Officer

Gregory B. Elming is senior vice president and chief risk officer of the Principal Financial Group, Inc.

Elming joined the company in 1982 as a staff accountant. He was named administrator-corporate accounting and taxes in 1985 and manager in 1986. He was elected an officer and named assistant controller in 1988, and director-financial reporting in 1995. He was named a second vice president in 1998, vice president and controller in 2000 and to his current role in 2011.

An Iowa native, Elming received his bachelor’s degree from the University of Iowa. Elming is a Fellow of Life Management Institute (FLMI).

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Ralph C. Eucher, Executive Vice President

Ralph Eucher is executive vice president of the Principal Financial Group^®.

An Iowa native, Eucher received his bachelor’s and master’s degrees from Iowa State University in Ames, Iowa. He received his doctorate of jurisprudence degree from the University of Iowa in Iowa City, Iowa. Eucher is a member of the Investment Company Institute’s Board of Governors. He also is a member of the American, Minnesota and Iowa Bar Associations.

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Nora M. Everett, President and CEO, Principal Funds and Senior Vice President, Retirement and Investor Services

Nora Everett is president and CEO, Principal Funds and senior vice president, Retirement and Investor Services (RIS) of the Principal Financial Group^®. She is responsible for Principal Funds, Principal Bank and Principal Trust as well as the Compliance and Investment Services divisions of RIS.

Everett joined The Principal in 1991 as an attorney and was promoted to senior vice president and deputy general counsel in 2004. She was promoted to her current position in 2008. Prior to joining The Principal, Nora practiced law in Washington, D.C.

Nora holds FINRA Series 7 and 24 licenses and is a member of the Iowa State Bar Association. She earned her bachelor's degree and Phi Beta Kappa honors from Iowa State University and her J.D. degree from William & Mary Law School. Nora serves on several boards, including Principal Funds, Principal Bank, Principal Trust, Principal International, Origin Asset Management, Finisterre Capital, and the Community Foundation of Greater Des Moines. She also serves on the Investment Company Institute's Board of Governors.

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Joyce N. Hoffman, Senior Vice President and Corporate Secretary

Joyce Nixson Hoffman is senior vice president and corporate secretary of the Principal Financial Group^®.

Hoffman joined the company in 1980 as an attorney in the Law Department. She was elected an officer and named assistant counsel in 1981, associate counsel in 1985, and corporate secretary in 1988. She was named vice president and corporate secretary in 1991 and promoted to her current position in 2001. She was associated with the West Des Moines law firm of Stamatelos and Smith from 1977 to 1980.

Hoffman is a member of the American Society of Corporate Secretaries.

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Julia M. Lawler, Senior Vice President, Investment Services

Julia M. Lawler is senior vice president, investment services with the Principal Financial Group^®.

Lawler joined the company in 1984 as a commercial real estate representative and was promoted to regional equity administrator in 1988 and senior regional equity administrator in 1990. She was elected an officer and named assistant director of Commercial Real Estate - Equities in 1993, executive advisor in 1994. She was named director - Capital Markets in 1996, vice president - Capital Markets in 1999 and president - Real Estate Equity Group in 2000, and senior vice president and chief investment officer in 2002. She was promoted to her current position in 2012.

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Terrance J. Lillis, Senior Vice President and Chief Financial Officer

Terrance (Terry) J. Lillis is an executive with the Principal Financial Group^®. He is senior vice president and chief financial officer.

Lillis joined The Principal^® in 1982 as an actuarial student. He was promoted to actuarial associate in 1985 and senior actuarial associate in 1986. He was elected an officer and named assistant actuary in 1988, associate actuary in 1992, actuary in 1995, second vice president-pension actuarial in 1999, and chief financial officer-RIS in 2000.  He was named to his present position in 2008.

An Iowa native, Lillis received his bachelor's degree from Simpson College in Indianola, Iowa and his master's degree from the University of Iowa in Iowa City, Iowa. Lillis is a member of the Iowa Actuaries Club, the American Academy of Actuaries, and a member of the Society of Actuaries. He also serves on the Mercy Medical Center Finance Board Committee, the Simpson College Board of Trustees, the Emmett J. Vaughan Institute of Risk Management and Insurance Advisory Board, and the Diocese of Des Moines and Catholic Charities Finance Council.

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Timothy J. Minard, Senior Vice President, Retirement and Investor Services and US Insurance Solutions Distribution

Timothy Minard is senior vice president, distribution for Retirement and Investor Services and US Insurance Solutions. In this role, Minard manages distribution initiatives for all retirement-related product lines of The Principal^®, including full-service accumulation, mutual funds, annuities and asset retention products and services, as well as our life, non-qualified, disability and non-medical products within US Insurance Solutions.

Minard leads a nationwide network of 46 retirement services offices, with more than 120 sales and business development staff and 200 service and education staff. For US Insurance Solutions, he leads more than 135 sales staff and 965 affiliated financial representatives across the country. He is also responsible for seeking out and forging strategic relationships with premier sales and distribution partners.

Minard received his bachelor’s degree in finance from the University of Iowa in Iowa City, Iowa.

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Mary A. O’Keefe, Senior Vice President and Chief Marketing Officer

Mary A. O’Keefe is senior vice president and chief marketing officer of the Principal Financial Group^®. She is responsible for corporate marketing, branding, communications, corporate giving, strategic planning and development.

O’Keefe joined the company in 1990 as media relations manager. She was elected an officer and named director of corporate relations in 1993, and named senior vice president in 1998. She was promoted to her current position in 2004.

O’Keefe serves on the following boards: Chair, The Principal Charity Classic, Greater Des Moines Partnership Executive Committee and Board of Directors, Downtown Community Alliance, Community Foundation of Greater Des Moines, Kum & Go, Iowa Health-Des Moines, Maddie’s Circle, the Homeless Coordinating Council, the Blank Park Zoo Wild About Animals Cabinet and the National PRSA Audit Committee. She is the president of the Riverfront Development Association, president/chair of the Principal Financial Group Foundation, Inc. O’Keefe is also co-chair of the Downtown Community Alliance. In addition, she is a member of the public relations committee of the American Council of Life Insurance.

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Jerry Patterson, Senior Vice President, Retirement and Investor Services

Jerry Patterson is senior vice president, Retirement and Investor Services with the Principal Financial Group^®. He is responsible for the retail and institutional annuity businesses, retirement income management strategy and overall accountability for the individual investor business of The Principal^®.

Patterson joined the company in 2001 as chief marketing officer in the Life and Health segment. He recently completed a multi-year rotational assignment as Chief Operating Officer of Nippon Life Benefits, based in New York City. Before joining The Principal, he served as senior vice president at Prudential Investments, senior vice president of Annuities at SunAmerica and vice president of marketing at Manulife. He also has experience in tax accounting and tax law with BDO Seidman and Husch & Eppenberger, respectively.

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Gary P. Scholten, Senior Vice President and Chief Information Officer

Gary P. Scholten is the senior vice president and chief information officer of the Principal Financial Group^®, responsible for overseeing the company's use of Information Technology. He also leads the company's use of offshore resourcing, and oversees sourcing and supplier management, and corporate strategic development.

Scholten joined the company in 1980 as an assistant planning analyst, and was elected an officer and named assistant director in 1989, director of Information Systems in 1992, second vice president – Information Services in 1994, vice president – Retail Information Services in 1998, and to his present position in 2002. A native of Larchwood, Iowa, Scholten received his bachelor's degree from the University of Northern Iowa in Cedar Falls.

Scholten is a fellow of the Life Office Management Institute and is past chair of the LOMA Individual Product Systems Committee. He chairs Principal Global Services, Private Limited, a wholly owned subsidiary of the Principal Financial Group located in Pune, India. He also serves on two Principal International Chilean Boards: Principal International de Chile S.A, and Principal Asset Management Chile S.A. Scholten previously served as Chairman of the Board for the Technology Association of Iowa. In 2011, he was appointed to serve on the Iowa Governor's Science, Technology, Engineering and Mathematics (STEM) Advisory Council.

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Deanna D. Strable, Senior Vice President, U.S. Insurance Solutions

Deanna D. Strable is senior vice president, U.S. Insurance Solutions. Strable is responsible for all products within the Individual Life and Specialty Benefits Divisions of the US. Insurance Solutions Segment and has overall accountability for the individual life, individual disability, group disability, group life, group dental, group vision, and wellness businesses.

Strable joined the company in 1990 as an actuarial assistant. She was appointed actuarial associate in 1992, senior actuarial associate in 1994 and named officer in 1995. In 1999, Strable was promoted to second vice president and vice president in 2002, then senior vice president in 2005. She is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.

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Angela R. Sanders, Senior Vice President and Controller

Angela R. Sanders is senior vice president and controller for the Principal Financial Group^®. Sanders joined the company in 1989 as staff accountant in Corporate Accounting. She held various positions within the department and was named assistant vice president and chief accounting officer in 2002. She was promoted to her current position in 2012.

Sanders, a CPA, earned her bachelor's and master's degrees in Accounting from the University of Iowa in Iowa City.

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Roberto Walker, President, Principal International – Latin America

Roberto Walker is president, Principal International Latin America. Walker joined the company in 1996. Most recently, he served as chief operating officer and head, Fund Management, Principal International Latin America, where he was responsible for the development and execution of the business strategy in Latin America and development for the asset management and mutual fund businesses. He has served in several roles including chief investment officer and chief financial officer, Chile, and country head, Mexico, where he oversaw a number of businesses. Walker holds a bachelor's degree in business administration specializing in economics and finance from Universidad de Chile.

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