Chief Risk Officer Ellen Lamale to Retire
DES MOINES, Iowa, Dec 06, 2010 (BUSINESS WIRE) --
The Principal Financial Group(R) announced today that Ellen Z. Lamale, senior vice president and chief risk officer of The Principal(R), will retire in early 2011 after serving more than 34 years with the company.
"Ellen has provided extraordinary leadership to the organization in many areas," says Larry D. Zimpleman, chairman, president and CEO, The Principal. "We thank Ellen for her years of service and wish her the best as she enters retirement."
Lamale joined The Principal in 1976 as an actuarial student and has held several senior level positions including chief actuary and chief risk officer. Named to her current position in 2008, Lamale is responsible for the actuarial, internal audit, risk consulting, corporate treasury and capital markets areas.
In anticipation of Lamale's retirement, Tim Dunbar, currently executive director - Principal Global Investors (PGI) Equities, is being promoted to senior vice president, Strategy and Finance for The Principal. He will be responsible for Capital Markets, Treasury and Strategic Development divisions. Dunbar will transition into his new role over time in order to ensure a seamless transition for the business. Mustafa Sagun will continue as chief investment officer for PGI Equities and there will be no changes to the investment philosophy, process or team.
Lamale's responsibilities as chief risk officer for The Principal are being transitioned to Greg Elming, currently senior vice president and controller, who will become senior vice president and chief risk officer. Angie Sanders, currently chief accounting officer, has been promoted to vice president and controller. These transitions are effective Jan. 1, 2011.
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About the Principal Financial Group
The Principal Financial Group(R) (The Principal(R))1 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 $305.7 billion in assets under management2 and serves some 18.9 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.
1"The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2As of Sept. 30, 2010.
SOURCE: The Principal Financial Group
The Principal Financial Group
Susan Houser, 515-248-2268
John Egan, 515-235-9500