Could the Principal Funds be in the market for another acquisition? The asset manager just promoted M&A vet Nora Everett to president. Everett was previously senior vice president and deputy general counsel at the Principal Financial Group. The title of president was formerly held by Ralph Eucher, who will retain his titles of CEO and vice chairman of the board.

Nora Everett Principal Funds president

"She brings a wealth of investment, regulatory and acquisition knowledge that will benefit our shareholders and our mutual fund business business as we pursue growth," Eucher said.

In 2006, Principal purchased the mutual fund business of Washington Mutual.

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Company Press Release

Principal Funds named Nora M. Everett president, effective March 1, 2008. Everett most recently served as senior vice president and deputy general counsel at the Principal Financial Group.

Ralph Eucher, former president of Principal Funds, retains his title as CEO and serves as vice chairman of the board of Principal Funds. Everett reports to Eucher.

“As president of the funds complex, Nora returns to her roots in our investment operations,” Eucher said. “She brings a wealth of investment, regulatory and acquisition knowledge that will benefit our shareholders and our mutual fund business as we pursue future growth.”

Everett has worked for the The Principal® since 1991 in mergers and acquisitions, corporate finance, litigation, regulatory inquiries and investments. She played a key role in managing the initial public offering of the Principal Financial Group in 2001.

Everett holds a Juris Doctor degree from the College of William and Mary School of Law and Phi Beta Kappa honors from Iowa State University, where she earned a bachelor’s degree. She serves on the boards of Principal International and the Chrysalis Foundation.

About Principal Funds

Principal Funds is a leading provider of mutual fund solutions for individual investors and retirement plans, with more than $63 billion[1] in assets under management. Principal Funds is backed by the extensive asset management capabilities of Principal Global Investors and other leading subadvisors and has special expertise in asset allocation solutions. Including target risk and target date funds, Principal Funds is the 5th largest manager of lifecycle funds in the industry.[2] Principal Funds are sold through a nationwide network of financial professionals associated with brokerage and financial planning firms. Principal Funds and Principal Global Investors are both members of the Principal Financial Group.

About the Principal Financial Group

The Principal Financial GroupÒ (The Principal ®)[3] 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 $311.1 billion in assets under management[4] and serves some 18.6 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.  

Edited by: Erin Kello


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