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The Principal Financial Group Names Dennis Ferro to Board of Directors

11/03/2010

DES MOINES, Iowa, Nov 03, 2010 (BUSINESS WIRE) --

The Principal Financial Group(R)(NYSE: PFG) today announced Dennis H. Ferro joined the company's Board of Directors effective Nov. 1, 2010.

Ferro served as president and chief executive officer of Evergreen Investment Management Company from 2003 to 2008, and chief investment officer from 1999 to 2003. Prior to Evergreen, he served in senior executive roles at several leading financial services companies including Zurich Investment Management, CIGNA Corporation and Bankers Trust Company (of Japan, Florida and New York).

Ferro serves on the Board of Directors of NYMAGIC, Inc., a commercial lines property-casualty insurance holding company, and XStream Systems, Inc., which designs and develops material authentication solutions. He also serves on the Investment Committee of the American Bankers Association. Ferro is a Chartered Financial Analyst (CFA) and member of the Financial Analyst Society of North Carolina. He earned a bachelor's degree from Villanova University in Pennsylvania and an MBA in finance from St. John's University.

"We are very pleased to have Dennis joining our Board. His significant experience in international markets along with his asset management background will help us as we advance our asset accumulation and asset management businesses," said Larry Zimpleman, chairman, president and CEO of The Principal(R).

Ferro commented, "I have been greatly impressed with the global business model of the Principal Financial Group and look forward to helping the ongoing development of its dynamic business strategy."

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: Principal Financial Group, Inc.

Principal Financial Group
Susan Houser, 515-248-2268
houser.susan@principal.com

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