Principal Financial Group has rebranded its investment arm to reflect its increasing focus on asset management.
From 11 October, the investment arm, formerly known as Principal Global Investors, would now be known as Principal Asset Management.
As part of this, the firm had been working on ways to unify and strengthen its investment teams, processes, products and distribution model to provide holistic financial solutions.
This included building new products and alternative investment options such as model portfolios and direct lending and hires had been made in areas such as global wealth
Kamal Bhatia, chief operating officer, said: “We’re building and strengthening relationships with investors in over 80 markets, aligning our growth strategy to their needs and the evolving market opportunities to solidify a consistent global identity.
“Principal remains focused on identifying compelling opportunities by providing clear perspectives that are harnessed by the power of our diverse, local investment talent. A global asset management platform that brings deep, specialist capabilities will continue to actively unlock insights and opportunities for all our clients.”
