Principal announces Åsa Norrie as new CEO and regional head of distribution for European asset management business

Principal today announces Åsa Norrie as regional chief executive officer and head of distribution for Principal Global Investors ($544.9 billion AUM¹). Based in London, Norrie will be responsible for the European business and client strategic efforts for the region.

In Europe, Principal Global Investors manages assets on behalf of institutional and retail clients across real estate, global equities, and fixed income. The team is dedicated to providing excellence in fund management and assisting clients in achieving their wealth management objectives.

Norrie joins Principal from Aberdeen Standard Investments (ASI) where she spent 15 years, most recently as head of global strategic alliances. She was responsible for clients investing in strategies across real estate, private equity and absolute return, as well as dedicated ESG funds in equity and fixed income asset classes.

While at ASI she also served as Global Head of Early Careers for distribution and marketing. Prior to this, she was Head of European Business Development at Standard Life Investments. Norrie has also previously held various senior positions at both Britannic Asset Management and Edinburgh Fund Managers including as a portfolio manager. With 25 years of industry experience, Norrie brings a comprehensive view of investors’ needs and demands to Principal.

Norrie’s appointment follows the decision of Timothy Stumpff, CEO of Principal Global Investors Europe, and Nick Lyster, International head of Wealth Advisory Services, to retire from the firm early this year. Her appointment as CEO is subject to regulatory approval.

Kirk West, Executive Director, International Business and Clients, Principal Global Investors: “Principal has developed its asset management business successfully in the UK and Europe and remains focused on growing its client base in the region. We continue to expand our investment capabilities and the broader continent remains a center for top wealth management and pension clients—Åsa’s strong knowledge of all investor types and channels will allow us to deepen our roots while strategically expanding our relationships. We are proud to welcome Åsa to our leadership team with her unique experience and diverse perspective.”

Åsa Norrie added: “I am delighted to be joining Principal Global Investors as its new Chief Executive and Regional Head of Distribution in Europe. Principal has a long track record of delivering strong investment outperformance, combined with a culture that puts the needs of its clients at the heart of its business. I am looking forward to building on the success that the business has delivered in the region to date and to continuing to partner with our clients to help them achieve their long-term financial goals.”