Rex Auyeung to leave Principal International after 23 years of service
DES MOINES, Iowa--(BUSINESS WIRE)--
Financial Group® announced today that Rex Auyeung,
chairman of Principal Asia, will be retiring in June 2017 after 23 years
of service. Thomas Cheong, vice president of North Asia, and Pedro
Borda, vice president of South Asia and India, will continue to lead
business operations in the region.
“Rex has been one of our most important assets in Asia; helping to
strengthen and expand our business relationships across the continent,”
said Luis Valdes, president of Principal International. “While he will
be greatly missed, I am confident our operations in Asia will continue
to be strong thanks to the experienced leadership of Thomas Cheong over
North Asia, and Pedro Borda over South Asia and India.”
Auyeung joined Principal in 1994. He has led Principal International
operations in Asia, which includes Hong Kong, India, China and Southeast
Asia. Under his direction, the region has grown to more than $120
billion AUM. Auyeung developed and strengthened relationships in the
region through strategic joint venture partnerships, including CCB
Principal Asset Management, Principal Pnb Asset Management in India, and
CIMB-Principal Asset Management in Southeast Asia.
Following Auyeung’s retirement, Cheong and Borda will report directly to
Valdes as they continue to lead North Asia and South Asia, respectively.
Principal helps people and companies around the world build, protect and
advance their financial well-being through retirement, insurance and
asset management solutions that fit their lives. Our employees are
passionate about helping clients of all income and portfolio sizes
achieve their goals – offering innovative ideas, investment expertise
and real-life solutions to make financial progress possible. To find out
more, visit us at principal.com.
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trademarks and service marks of Principal Financial Services, Inc., a
member of the Principal Financial Group.
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Source: Principal Financial Group