Principal Financial Group® today announced Vivek Agrawal will join the company as chief growth officer effective March 7.
Chief growth officer is a new role for Principal®, aimed at accelerating the company’s strategic initiatives and growth opportunities to drive greater value for customers and shareholders. It also builds on the transformative work Principal took on during its comprehensive portfolio and strategy review in 2021.
In this role, Agrawal will be responsible for leading the company’s strategy and working across the business to further customer-driven capabilities that drive profitable growth, capture synergies across the enterprise, and differentiate the company from its competitors. He will also report to and serve as senior advisor to Dan Houston, chairman, president, and chief executive officer.
“As we continue to transform Principal to adapt to the evolving needs of our customers, this new role and the addition of Vivek is integral to ensuring we’re intentional and disciplined in how we analyze, approach, and seize new opportunities for growth, capture synergies across the portfolio, and expand our competitive advantages,” said Houston. “Vivek’s expertise in managing complex transformations positions him uniquely to help deliver on the company’s growth aspirations. His combination of industry and global experience is a welcome addition to our senior leadership team.”
Agrawal is currently Senior Partner at McKinsey & Company. During his tenure at McKinsey spanning more than two decades, Agrawal led McKinsey’s practices in both the United States and Asia and has built considerable hands-on experience in the growth and turn-around of leading organizations in asset management, retirement, wealth management, and insurance sectors globally.
As executive vice president and chief growth officer, Agrawal will serve as a member of the executive management team. He will be based in the company’s global headquarters in Des Moines, Iowa.
Agrawal received a Master of Science from the Massachusetts Institute of Technology and a bachelor’s degree from the Indian Institute of Technology.