Four segments comprise the company: Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions.
The company employs roughly 9,000 people in Des Moines, Iowa, and owns and operates several buildings in the downtown area. The tallest, known as 801 Grand, is 45 stories tall (192m/630 ft),[2] and houses many other companies in addition to Principal.
As of March 2014, Principal employed 14,600 employees worldwide, with its Global Delivery center, Principal Global Services, in Pune, Maharashtra, India.[3]
Principal also has a lobbyist registered in the Iowa Legislature since December 2016. He is designated to lobby the Executive Branch of the Government of Iowa.[4]
In 2019, Principal purchased Wells Fargo's institutional retirement and trust business (including 401k, pension, executive deferred compensation, employee stock ownership plans and asset advice business) for $1.2 billion. The deal was financed with cash and senior debt financing.[5]
In 2021, activist investor firm Elliott Investment Management took a stake in Principal, saying it will push for changes at the company.[6] Talks with Elliott resulted in the February 2021 announcement of two new independent directors to its board of directors.[7]
Eddieedit
Eddie was the lead and central character in the marketing campaign of the Principal Financial Group from 2005 to 2015. Eddie's television and print ads often depicted him facing challenges and using the Principal Edge logo to solve his financial, business, and everyday life problems. Eddie retired in 2015 in preparation for the company's new logo that debuted in 2016.[8]
^"Principal closes $1.2 billion deal to buy Wells Fargo retirement business". Des Moines Register. Associated Press. Retrieved September 9, 2020.
^"Activist investor Elliott to buy stake in insurer Principal Financial: Bloomberg News". Reuters. February 22, 2021. Retrieved March 21, 2021.
^"Principal Financial Group Announces Shareholder Value Initiatives". www.businesswire.com. February 22, 2021. Retrieved April 1, 2021.
^. Principal Financial Group. Archived from the original on May 6, 2016. Retrieved April 14, 2016.
^"Principal Financial Group Appoints New Head of Global Risk". businesswire. August 20, 2020. Retrieved August 23, 2020.
External linksedit
The Principal Financial Group Official Website
Business data for Principal Financial Group:
Bloomberg
Google
Reuters
SEC filings
Yahoo!
February 16, 2024
principal, financial, group, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, article, remains, verifiable, maintains, consistent, citation, style, several, templates, tools, . This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as reFill documentation and Citation bot documentation August 2022 Learn how and when to remove this template message Principal Financial Group is an American global financial investment management and insurance company headquartered in Des Moines Iowa U S Principal Financial Group Inc View of the 801 Grand The headquarters of its owner Principal Financial Group is in the foreground at 711 High Street Company typePublicTraded asNasdaq PFGS amp P 500 componentIndustryInsurance Financial ServicesFounded1879FounderEdward TempleHeadquartersDes Moines Iowa U S Area servedGlobalKey peopleDaniel Houston CEO Productsretirement planning insurance asset managementRevenueUS 14 263 Billion Fiscal Year Ended December 31 2021 1 Operating incomeUS 2 084 Billion Fiscal Year Ended December 31 2021 1 Net incomeUS 1 711 Billion Fiscal Year Ended December 31 2021 1 AUMUS 713 9 Billion Fiscal Year Ended December 31 2021 1 Total assetsUS 304 657 Billion Fiscal Year Ended December 31 2021 1 Total equityUS 16 125 Billion Fiscal Year Ended December 31 2021 1 Number of employees 18 600 As of December 31 2022 1 SubsidiariesPrincipal Mutual FundWebsiteprincipal wbr com Contents 1 Business operations 2 Eddie 3 Naming rights 4 Management 5 See also 6 References 7 External linksBusiness operations editFour segments comprise the company Retirement and Income Solutions Principal Global Investors Principal International and U S Insurance Solutions The company employs roughly 9 000 people in Des Moines Iowa and owns and operates several buildings in the downtown area The tallest known as 801 Grand is 45 stories tall 192m 630 ft 2 and houses many other companies in addition to Principal As of March 2014 Principal employed 14 600 employees worldwide with its Global Delivery center Principal Global Services in Pune Maharashtra India 3 Principal also has a lobbyist registered in the Iowa Legislature since December 2016 He is designated to lobby the Executive Branch of the Government of Iowa 4 In 2019 Principal purchased Wells Fargo s institutional retirement and trust business including 401k pension executive deferred compensation employee stock ownership plans and asset advice business for 1 2 billion The deal was financed with cash and senior debt financing 5 In 2021 activist investor firm Elliott Investment Management took a stake in Principal saying it will push for changes at the company 6 Talks with Elliott resulted in the February 2021 announcement of two new independent directors to its board of directors 7 Eddie editEddie was the lead and central character in the marketing campaign of the Principal Financial Group from 2005 to 2015 Eddie s television and print ads often depicted him facing challenges and using the Principal Edge logo to solve his financial business and everyday life problems Eddie retired in 2015 in preparation for the company s new logo that debuted in 2016 8 Naming rights editPrincipal owns the naming rights to Principal Riverwalk Principal Park and The Principal Charity Classic in Des Moines Management editOn August 20 2020 the company announced that Ken McCullum would become the new chief risk officer following the retirement of Julia Lawler 9 See also editList of United States insurance companies Principal Mutual Fund IndiaReferences edit a b c d e f g Principal Financial Group 2021 Annual Report Results PDF February 11 2022 Retrieved November 2 2022 801 Grand Des Moines November 8 2004 Archived from the original on November 8 2004 Archived copy PDF Archived from the original PDF on May 21 2013 Retrieved May 21 2012 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link http coolice legis iowa gov Cool ICE default asp Category Matt amp Service lobpic amp lobbyist 1712 Principal closes 1 2 billion deal to buy Wells Fargo retirement business Des Moines Register Associated Press Retrieved September 9 2020 Activist investor Elliott to buy stake in insurer Principal Financial Bloomberg News Reuters February 22 2021 Retrieved March 21 2021 Principal Financial Group Announces Shareholder Value Initiatives www businesswire com February 22 2021 Retrieved April 1 2021 Even Cartoon Guys Plan for Retirement The Principal Financial Group Bids Farewell to Eddie with Launch of SeeYourRetirement Campaign Principal Financial Group Archived from the original on May 6 2016 Retrieved April 14 2016 Principal Financial Group Appoints New Head of Global Risk businesswire August 20 2020 Retrieved August 23 2020 External links editThe Principal Financial Group Official Website Business data for Principal Financial Group BloombergGoogleReutersSEC filingsYahoo Retrieved from https en wikipedia org w index php title Principal Financial Group amp oldid 1184369621, wikipedia, wiki, book, books, library,
