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Company Leaders

    Larry Zimpleman , , , Chairman and Chief Executive Officer

    Larry D. Zimpleman is chairman and chief executive officer of the Principal Financial Group®. He is responsible for overall management of the company.

    Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 2006 he served in various management and leadership positions at the officer level, mostly in the U.S. retirement business. He was named president and chief operating officer of the Principal Financial Group in 2006; president and chief executive officer in 2008; and president, chairman and CEO in 2009. Currently he is chairman and CEO.

    Zimpleman serves as chair of the Financial Services Roundtable and is an active member of the Business Roundtable. He is a member of the American Council of Life Insurers Board of Directors. He is a member of the Iowa Partnership for Economic Progress (IPEP) board, appointed by Gov. Terry Branstad. He currently serves as chair of the Board of Trustees for Drake University, chair of the Iowa Business Council, and is a member of the Business-Higher Education Forum.

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    Daniel J. Houston , , , President and Chief Operating Officer

    Daniel J. Houston is president and chief operating officer with the Principal Financial Group®. He is responsible for all global businesses, including Principal Global Investors, Principal International, Retirement and Investor Services, and U.S. Insurance Solutions.

    Houston joined the company in 1984 as a group representative in the Dallas group and pension office. He was promoted to senior group and pension representative in 1986, and named group and pension consultant in 1988. He was elected an officer and named regional director of group and pension sales in 1990 and promoted to regional vice president in 1993, to vice president in 1997, and to senior vice president in 2000. He was named executive vice president in 2006 and president in 2008. He assumed his current title in 2014.

    Houston is a member of several boards, including United Way of Central Iowa, Mercy Medical Center, Employee Benefits Research Institute (EBRI), America’s Health Insurance Plans (AHIP), Iowa State University Business School Dean’s Advisory Council, Morley Financial Services, and Partnership for a Healthier America.

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    Nora M. Everett , , , President of Retirement and Investor Services and Chairman of Principal Funds

    Nora Everett is president of Retirement and Investor Services (RIS) and chairman of Principal Funds at the Principal Financial Group®. She is responsible for U.S. retirement, annuity, broker-dealer and banking businesses at The Principal®.

    Everett joined The Principal in 1991 as an attorney and was promoted to senior vice president and deputy general counsel in 2004. She was promoted senior vice president, Retirement and Investor Services in 2008 and CEO of Principal Funds in 2010. Everett was promoted to her current position in 2015. Prior to joining The Principal, she practiced law in Washington, D.C.

    Everett holds FINRA Series 7 and 24 registrations and is a member of the Iowa State Bar Association. She earned her bachelor’s degree and Phi Beta Kappa honors from Iowa State University and her J.D. degree from William & Mary Law School. Everett serves on several boards, including Principal Funds, Principal Bank, Principal International, Origin Asset Management, Finisterre Capital, and the Community Foundation of Greater Des Moines. She also serves on the Investment Company Institute’s Board of Governors.

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    James P. McCaughan , , , President, Global Asset Management and Chief Executive Officer, Principal Global Investors

    James P. McCaughan is president, global asset management, and chief executive officer of Principal Global Investors. McCaughan oversees all global asset management activities, including developing global strategies and identifying and analyzing market opportunities.

    McCaughan has 33 years of experience in the investment business and nine years at The Principal. Before 2002 he was the CEO of the Americas division of Credit Suisse Asset Management, New York, NY. Prior to Credit Suisse, he was president and chief operating officer of Oppenheimer Capital in New York. McCaughan is a Fellow of the Institute of Actuaries, and a graduate from Cambridge in Mathematics.

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    Deanna D. Strable , , , President – U.S. Insurance Solutions

    Deanna Strable is president of U.S. Insurance Solutions at the Principal Financial Group®. Strable is responsible for all businesses within the Individual Life and Specialty Benefits Divisions of U.S. Insurance Solutions and has overall accountability for individual life, group benefits, individual disability, and nonqualified deferred compensation.

    Strable joined the company in 1990 as an actuarial assistant.  She was appointed actuarial associate in 1992, senior actuarial associate in 1994 and named officer in 1995. In 1999, Strable was promoted to second vice president, and then vice president in 2002. She was named senior vice president in 2005 before assuming her current position in 2015.

    Strable currently serves on the external boards for LIMRA LOMA Global (LL Global, Inc), America’s Health Insurance Plans (AHIP) and Simpson College.  She also serves on various committees for the United Way of Central Iowa and the American Council of Life Insurers (ACLI).

    A native of Iowa, Strable received her bachelor's degree from Northwestern University in Evanston, Illinois.  She is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.

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    Luis Valdés , , , President, Principal International

    Luis Valdés is president & CEO, Principal International. He is responsible for managing businesses of The Principal® outside the United States in the company’s international asset management and accumulation segment.

    Valdés joined The Principal® in 1994. Previously he was managing director of BanRenta Compañía de Seguros de Vida, which was purchased by Principal International to become Principal Vida Chile. Prior to BanRenta, he was an insurance market consultant for The World Bank, Intendente de Seguros (Insurance Commissioner) in Chile.

    Valdés serves on the boards of BrasilPrev Seguros & Previdencia (Brazil), Principal International (Chile) and Principal AFORE and Principal Life (Mexico).

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    Timothy M. Dunbar , , , Executive Vice President and Chief Investment Officer

    Timothy M. Dunbar is executive vice president and chief investment officer of the Principal Financial Group®.

    Dunbar joined the company in 1986 as an asset manager representative. He was elected an officer and named assistant director, Commercial Real Estate Equities in 1994; appointed director, Management for Principal International, in 1997. He was elected second vice president, Mergers and Acquisitions in 2003. He was appointed the executive director and head of equities for Principal Global Investors in 2004. In 2011 he was named senior vice president, Strategy and Finance, then named SVP and Chief Investment Officer in 2013, and assumed his current position in 2014.

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    Terrance J. Lillis , , , Executive Vice President and Chief Financial Officer

    Terrance (Terry) J. Lillis is the executive vice president and chief financial officer with the Principal Financial Group®.

    Lillis joined The Principal® in 1982 as an actuarial student. He held various senior actuarial and management roles through 2000 when he was named chief financial officer – Retirement & Investor Services. He was promoted to senior vice president and chief financial officer for The Principal in 2008 and to his current position in 2014. An Iowa native, Lillis received a bachelor’s degree from Simpson College and a master’s degree from the University of Iowa. He is a member of the Iowa Actuaries Club, the American Academy of Actuaries and a member of the Society of Actuaries. He also serves on the Mercy Medical Center Board of Directors; Planning & Marketing and Finance Committees, the Simpson College Board of Trustees, the Henry B. Tippie College of Business Advisory Board, and the Diocese of Des Moines and Catholic Charities Finance Council.

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    Gary P. Scholten , , , Executive Vice President and Chief Information Officer

    Gary P. Scholten is the executive vice president and chief information officer of the Principal Financial Group®, responsible for overseeing the company's use of Information Technology. He also leads the company's use of offshore resourcing, and oversees sourcing and supplier management, and corporate strategic development.

    Scholten joined the company in 1980 as an assistant planning analyst, and was elected an officer and named assistant director in 1989, director of Information Systems in 1992, second vice president – Information Services in 1994, vice president – Retail Information Services in 1998, and to senior vice president and chief information officer in 2002. He was promoted to executive vice president in 2014. A native of Larchwood, Iowa, Scholten received his bachelor's degree from the University of Northern Iowa in Cedar Falls.

    Scholten is a fellow of the Life Office Management Institute and is past chair of the LOMA Individual Product Systems Committee. He chairs Principal Global Services, Private Limited, a wholly owned subsidiary of the Principal Financial Group located in Pune, India. He also serves on two Principal International Chilean Boards: Principal International de Chile S.A, and Principal Asset Management Chile S.A. Scholten previously served as Chairman of the Board for the Technology Association of Iowa. In 2011, he was appointed to serve on the Iowa Governor's Science, Technology, Engineering and Mathematics (STEM) Advisory Council.

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    Karen E. Shaff , , , Executive Vice President, General Counsel and Secretary

    Karen Shaff is the executive vice president, general counsel and secretary for the Principal Financial Group®. She joined The Principal® in 1982 as an attorney in the law department, and was elected an officer and named assistant counsel in 1983; associate counsel in 1986; counsel in 1990; vice president and associate general counsel in 1995; senior vice president and deputy general counsel in 1999; senior vice president and general counsel in 2000. She was elected executive vice president in 2004 and took over as corporate secretary in 2014.

    Prior to working at The Principal®, Shaff was an associate with the law firm of Austin and Gaudineer from July 1979 through February 1982.

    She holds a law degree from Drake University Law School. Shaff obtained her B.A. from Northwestern University in Political Science.

    Shaff is Past President of the Association of Life Insurance Counsel, a member of the American, Iowa State and Polk County Bar Associations, the Association of Corporate Counsel and a past member of the Iowa State Bar Association Committee on Professional Ethics and Conduct and the Iowa State Bar Association Board of Governors. She is a director of GuideOne Mutual Insurance Company and GuideOne Specialty Mutual Insurance Company. Shaff is also Chair of the Animal Rescue League of Iowa Advisory Council and a trustee of Grinnell College.

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    Rex Auyeung , , , President, Principal International (Asia), and Senior Vice President, Principal Financial Group

    Rex Auyeung is president, of Principal International (Asia), based in Hong Kong, and senior vice president of the Principal Financial Group®.

    Auyeung has worked in the insurance industry in Canada and Hong Kong for over 35 years. He joined The Principal® in 1994. In his role, he represents The Principal and its member companies across Asia, building and expanding the company's relationships with clients, joint venture partners and strategic investors. He also assists with business development across all product lines of the company. Additionally, he is responsible for the overall Principal International business in markets including: India, China, Hong Kong, Malaysia, and other subsidiaries of the Malaysian company in Singapore, Indonesia and Thailand.

    Auyeung entered the insurance industry in 1977, holding various positions at Aetna Canada including director of group underwriting. In 1993 he returned to Hong Kong as vice president, group insurance for American International Assurance, responsible for group operations in Southeast Asia.

    Auyeung is the Co-Chairman of the Corporate & Employee Contribution Programme (CECP) Organising Committee and a member of Campaign Committee and the Investment Sub-committee of the Community Chest of Hong Kong. He is a member of the Public Affairs Forum of the Home Affairs Bureau HK SAR Government. He is Chairman of the Council of Lingnan University. He has been awarded an Honorary Fellowship at City University of Hong Kong. He is a member of the Court of City University of Hong Kong. He is a member of CIMB's International Advisory Panel in Malaysia.

    A Hong Kong native, Auyeung is a graduate of Ying Wa College, Hong Kong and the University of Waterloo, Canada, where he earned his bachelor's degree in Urban and Regional Planning.

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    Beth Brady , , , Senior Vice President and Chief Marketing Officer

    Elizabeth (Beth) Brady is senior vice president and chief marketing officer of the Principal Financial Group®. She is responsible for global marketing, including branding, advertising, media relations, digital marketing, sponsorships, data analytics, multi-cultural marketing, research and business intelligence.

    Brady joined The Principal® in September 2014. Previously, she served as president of segmentation solutions and the global head of marketing effectiveness at Nielsen Corporations. Prior to Nielsen, Brady was an officer at General Mills where, since 1999, she served in key senior Marketing leadership roles in support of strategic initiatives for the growth and success of various business units, including Progresso Soup and Food, Dry Dinners, and Wholesome Snacks. Before that, she held marketing and product management roles at Pillsbury, Wise Foods and Best Foods/CPC International.

    A native of Minneapolis, Minn., Brady holds a Master’s of Public Administration with a concentration in International Policy from the School of International and Public Affairs at Columbia University and a B.A. in Economics and Political Science concentrating in International Relations from St. Lawrence University. Brady has served on the boards of Make a Wish and Jeremiah Program, and has been involved with Special Olympics and Habitat for Humanity. She’s currently a member of The Conference Board Council for CMOs.

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    Ned A. Burmeister , , , Senior Vice President and Chief Operating Officer, Principal International

    Ned Burmeister is senior vice president of the Principal Financial Group® and senior vice president and chief operating officer of Principal International, Inc. He is responsible for finance, planning operations outside the United States for the company’s international asset management and accumulation segment.

    Burmeister serves on the boards of CIMB- Principal Asset Management (Malaysia), Principal International (Asia) Limited (Hong Kong) and Principal International, Inc., and is a member of the Society of Actuaries and the American Academy of Actuaries.

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    Gregory J. Burrows , , , Senior Vice President, Retirement and Investor Services

    Gregory J. Burrows is senior vice president, Retirement and Investor Services with the Principal Financial Group®.

    Burrows joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales and elected an officer. From 1994-1996, he was president and CEO of AHP, a former company subsidiary. Burrows served as the managing director of Principal International’s Argentina operation from 1996-1999 and Japan operation from 1999-2001. He returned to Des Moines, Iowa, in 2001 as the Retirement and Investor Services chief marketing officer, where his responsibilities included merger and acquisition oversight. In 2007, he assumed the role of vice president and managing director, Retirement and Investor Services and was named senior vice president, Retirement and Investor Services in 2008.

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    Gregory B. Elming , , , Senior Vice President and Chief Risk Officer

    Gregory B. Elming is senior vice president and chief risk officer of the Principal Financial Group, Inc.

    Elming joined the company in 1982 as a staff accountant. He was named administrator-corporate accounting and taxes in 1985 and manager in 1986. He was elected an officer and named assistant controller in 1988, and director-financial reporting in 1995. He was named a second vice president in 1998, vice president and controller in 2000 and to his current role in 2011.

    An Iowa native, Elming received his bachelor’s degree from the University of Iowa. Elming is a Fellow of Life Management Institute (FLMI).

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    Amy C. Friedrich , , , Senior Vice President – Specialty Benefits Division

    Amy C. Friedrich is senior vice president, Specialty Benefits Division with the Principal Financial Group®.

    Friedrich joined the company in 2000 in a performance improvement role for Corporate Strategic Development. Friedrich was promoted to corporate strategic development director in 2003. In 2004, Friedrich moved to the Specialty Benefits business unit. She was promoted to second vice president of Specialty Benefits in 2006 and named vice president of Specialty Benefits in 2008 before assuming her current position in 2015.

    Prior to joining the company, she was a change management manager with Accenture.

    Friedrich is a native of Van Meter, Iowa and earned her bachelor's degree in mass communication and philosophy from Buena Vista University in Storm Lake, Iowa and her master's in organizational communication from Purdue University in West Lafayette, Ind.

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    Julia M. Lawler , , , Senior Executive Director Multi-Asset Allocation

    Julia Lawler is Senior Executive Director Multi-Asset Allocation.

    Lawler joined the company in 1984 as a commercial real estate representative and was promoted to regional equity administrator in 1988 and senior regional equity administrator in 1990. She was elected an officer and named assistant director of Commercial Real Estate – Equities in 1993, and executive advisor in 1994. In 1995 she was named director – Capital Markets and vice president – Capital Markets in 1999. In 2000 she was named president – Real Estate Equity Group with Principal Capital Real Estate Investors, a wholly-owned subsidiary of The Principal®. In 2002 she was named senior vice president and chief investment officer. In 2013 she was named senior vice president – global investment services. In 2014 she was named Chief Investment Officer – Retirement and Investor Services. She was named to her present position in 2015.

    Lawler serves on the Habitat for Humanity Board and the United Way Women’s Leadership Investment Committee.

    Lawler earned her bachelor’s degree in 1982 from the University of Iowa in Iowa City.

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    Gregory A. Linde , , , Senior Vice President – Individual Life

    Greg Linde is senior vice president – individual life with the Principal Financial Group®.

    Linde joined Principal in 1992 as director of disability income and was promoted to assistant vice president and chief underwriter in 1997. In 1999 he was promoted to vice president – individual client services and to vice president – individual life in 2006 before assuming his current role in 2015. Prior to joining The Principal®, he held a number of positions at another insurance company.

    Linde earned his Bachelor of Arts degree from St. Cloud State University. His professional designations include: FLMI, AALU, LLIF, CLU and NASD Series 7 and 24.

    He has served on a number of Industry committees including the ACLI Medical & Risk Classification Committee, the ACLI and HIAA Disability Committees, the Executive Council for the Home Office Life Underwriters Association, LOMA’s Education and Training Council, and the ACLI Life Insurance Committee. Linde is a member of the Iowa Jobs for America's Graduates (iJAG) Board of Directors.

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    Dennis Menken , , , Senior Vice President and Chief Investment Officer

    Dennis Menken is senior vice president and chief investment officer of the general account for the Principal Financial Group®.

    Menken joined The Principal in 1994. Prior to his current role, he held a variety of portfolio management and credit underwriting positions at Principal Global Investors, the asset management arm of The Principal®. His background also includes a position as an auditor at Deloitte & Touche. He received a master's degree in accountancy and a bachelor's degree in accounting from the University of Iowa. Menken has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute, the CFA Society of Iowa and the American Institute of Certified Public Accountants.

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    Gerald W. (Jerry) Patterson , , , Senior Vice President, Retirement and Investor Services

    Jerry Patterson is senior vice president, Retirement and Investor Services (RIS) with the Principal Financial Group®. He is responsible for the retail and institutional annuity businesses, retirement income management strategy and overall accountability for the individual investor business of The Principal®.

    Patterson joined the company in 2001 as chief marketing officer in the Life and Health segment until 2008, when he took on a rotational assignment as Chief Operating Officer of Nippon Life Benefits, based in New York City. He moved into his current position within RIS in 2012. Before joining The Principal, he served as senior vice president at Prudential Investments, senior vice president of Annuities at SunAmerica and vice president of marketing at Manulife. He also has experience in tax accounting and tax law with BDO Seidman and Husch & Eppenberger, respectively.

    Patterson earned his bachelor's degree from the University of Wisconsin-Milwaukee and his law degree from the Drake University Law School. He is a member of both the Missouri and Kansas bars. He is currently involved in a number of industry groups including LIMRA, IRI, ACLI and CEB. He is also activity involved in the arts, including serving on a number of non-profit boards in the Des Moines metro.

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    Elizabeth L. (Beth) Raymond , , , Senior Vice President and Chief Human Resources Officer

    Elizabeth L. (Beth) Raymond is senior vice president, Human Resources with the Principal Financial Group®.

    Raymond joined the company in 2000 as assistant director – Executive Compensation. She was promoted to director – Compensation in 2002, to 2nd vice president – Compensation, Benefits and International HR in 2003. In March 2010 she was named vice president, Human Resources and to her current position in February 2014. Prior to joining the company she was a manager of compensation and benefits at GuideOne Insurance, a human resource analyst at MidAmerican Energy Company, a senior compensation analyst at InterCoast Energy Company, and a regional compensation analyst at Norwest Corporation.

    A native of Adel, Iowa, Raymond earned her bachelor’s degree from Coe College and her master’s degree from Central Washington University. Raymond is a certified compensation professional with the WorldatWork organization. She is also a member of the National Association of Stock Plan Professionals, a local and national member of the Society for Human Resources Management and a member of the Central Iowa Compensation & Benefits Network.

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    Angela R. Sanders , , , Senior Vice President and Controller

    Angela R. Sanders is senior vice president and controller for the Principal Financial Group®. Sanders joined the company in 1989 as staff accountant in Corporate Accounting. She held various positions within the department and was named assistant vice president and chief accounting officer in 2002. She was promoted to her current position in 2012.

    Sanders, a CPA, earned her bachelor's and master's degrees in Accounting from the University of Iowa in Iowa City.

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    Roberto Walker , , , Senior Vice President and President, Principal Financial Group – Latin America

    Roberto Walker is president, Principal International Latin America. Walker joined the company in 1996. Most recently, he served as chief operating officer and head, Fund Management, Principal International Latin America, where he was responsible for the development and execution of the business strategy in Latin America and development for the asset management and mutual fund businesses. He has served in several roles including chief investment officer and chief financial officer, Chile, and country head, Mexico, where he oversaw a number of businesses. Walker holds a bachelor's degree in business administration specializing in economics and finance from Universidad de Chile. In 2012, he completed the Columbia Senior Executive Program, at the Columbia Business School Executive Education.

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    David M. Blake , , , Senior Executive Director and Head Global Fixed Income

    In this capacity, David is responsible for building the firm’s fixed income business across the Americas, Europe and Asia. In his role as chief investment officer, David oversees portfolio management, research and trading conducted by investment teams involved in various traditional and liquid alternative strategies. David joined Principal Global Investors in 2000. Previously, David was a senior portfolio manager for Boatmen’s Capital Management, a subsidiary of Bank of America, where he began his career in 1989. David received both an MBA and a bachelor’s degree from Saint Louis University. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

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    Patrick G. Halter , , , Senior Executive Director of Principal Real Estate Investors

    Pat is the Chief Executive Officer for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. As head of real estate, he is responsible for overall global real estate strategy, new business development, and business management, including oversight of staff professionals located in the United States, Europe, Asia, and Australia.

    As a veteran in commercial real estate, Pat’s expertise includes product and fund design, new business development, portfolio strategy and investment management. Pat chairs the board of Principal Real Estate Investors and is a Senior Executive Director of Principal Global Investors. Pat joined the firm in 1984 and has held various positions within the real estate group. Pat is past Chairman of the Board of the National Association of Real Estate Investment Managers (NAREIM). He is a member of the Real Estate Roundtable and serves on the REPAC Steering Committee. Pat is also a member of the Pension and Real Estate Association (PREA), the Association of Foreign Investors in Real Estate (AFIRE), and serves on the Board of the Graaskamp Center for Real Estate at the University of Wisconsin.

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    Barbara A. McKenzie , , , Senior Executive Director and Chief Operating Officer - Boutique Operations

    Barbara A. McKenzie is senior executive director – COO & boutique operations for Principal Global Investors, the asset management arm of the Principal Financial Group®. She is responsible for three boutiques: Principal Global Equities, Edge Asset Management and Morley Financial Services, Inc. In addition, she is responsible for the development and efficient operation of business processes to facilitate the growth of the firm globally. This includes oversight of compliance, operations and IT.

    McKenzie joined the company in 1984 as a commercial real estate representative. She was promoted to regional administrator in 1988 and to senior regional administrator in 1990. She was elected an officer and named assistant director - Commercial Real Estate in 1993. In 1996 she was promoted to director – Research and Portfolio Management, to senior managing director in 1999, and to executive director – International Investments 2004.

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    Ellen W. Shumway , , , Senior Executive Director - Strategy and Boutique Operations

    Ellen Shumway joined The Principal® in 2005 as vice president-Corporate Strategic Development. Ellen is currently a Senior Executive Director-Strategy and Boutique Operations with Principal Global Investors, the diversified asset management organization and a member of the Principal Financial Group®.

    In this role, Ellen leads the development of the firm's affiliate businesses and oversees their operations, marketing and governance. She also advises on the sales collaboration between the firm's institutional advisory services group and the affiliates.

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