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Daniel J. Houston , , , Chairman, President and Chief Executive Officer

Daniel J. Houston is chairman, president and chief executive officer of Principal Financial Group®. He is responsible for overall management of the company.

Houston joined Principal® in 1984 in Dallas. He has held several management positions, being named senior vice president in 2000, executive vice president in 2006 and president of Retirement and Income Solutions in 2008. He was named president and chief operating officer in 2014 before assuming his current role in 2015.

Houston is a member of several boards, including Greater Des Moines Partnership, Employee Benefits Research Institute (EBRI), American Council of Life Insurers (ACLI), Financial Services Roundtable (FSR), Iowa State University Business School Dean’s Advisory Council, Partnership for a Healthier America (PHA) and Reaching Higher Iowa. He also serves as co-chair, along with Iowa Governor Kim Reynolds, for the Future Ready Iowa initiative.

Houston received his bachelor's degree from Iowa State University in 1984. He has appeared before the U.S. Senate Special Committee on Aging to discuss the importance of educating the workforce about the financial needs in retirement. Houston joined the joint forum of U.S. Senate Committees on Finance and Health, Education, Labor and Pensions to discuss “Private-Sector Retirement Savings Plans: What Does the Future Hold?” He also authored a chapter in “The Upside of Aging” published by John Wiley & Sons in 2014, on the keys to achieving financial security in retirement.

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Nora M. Everett , , , President of Retirement and Income Solutions and Chairman of Principal Funds

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

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

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, United Way of Central Iowa and the Community Foundation of Greater Des Moines. She also serves on the Investment Company Institute’s Board of Governors.

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Amy C. Friedrich , , , President – U.S. Insurance Solutions

Amy C. Friedrich is president of U.S. Insurance Solutions with Principal Financial Group®.

Friedrich joined Principal®in 2000 in a performance improvement role for Corporate Strategic Development. Later, as a director in that division, she helped define a long-term strategy for the specialty benefits division and in 2004, she moved into that area. Since then, she’s held many leadership roles, including second vice president in 2006 and vice president of group benefits in 2008. She took on oversight of individual disability insurance in 2015 when she was named a senior vice president. She assumed her current position in 2017.

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

Friedrich has served as a Trustee of Buena Vista University since 2015 and also serves on the Board of Directors of the Chrysalis Foundation. She’s 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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James P. McCaughan , , , President, Global Asset Management and Chief Executive Officer, Principal Global Investors

Jim McCaughan is an executive with Principal Financial Group®. He is president, global asset management, and chief executive officer of Principal Global Investors. Jim oversees all global asset management activities, including developing global strategies and identifying and analyzing market opportunities.

McCaughan has over 35 years of experience in the investment business. Prior to joining Principal® in 2002, he was the CEO of the Americas division of Credit Suisse Asset Management, New York, N.Y. Before that, he was president and chief operating officer of Oppenheimer Capital in New York.

McCaughan earned a degree in mathematics from the University of Cambridge in England. He is a Fellow of the Institute of Actuaries.

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Luis Valdés , , , President, Principal International

Luis Valdés is president & CEO, Principal International, Inc. Previously he was senior vice president, Principal Financial Group Latin America (2010 – March 2011), supervising operations in Brazil, Chile and Mexico. Valdes also served as regional vice president Latin America, Principal International from 1998 through March 2010. Prior to joining Principal®, Valdes served in several positions as a public servant for the Chilean Government from 1980 through 1991, including his last appointment as Insurance Commissioner for Chile (1989 – 1991).

Valdés has been associated with Principal since 1991 when he was managing director of BanRenta Compania de Seguros de Vida, which later was purchased by Principal International.

Valdés received his bachelor´s degree in physics and math (1980) and his degree of industrial engineering from the Universidad de Chile in Santiago (1982). He received his master’s degree from the IESE – Universidad de Navarra in Barcelona, Spain (1988).

Valdés has been an insurance market consultant for the World Bank. He serves on the boards of BrasilPrev Seguros & Previdencia (Brazil), Principal International (Chile) and Principal AFORE and Principal Life (Mexico) and several boards in Asia. He has been a professor of Business Policy and Finance since 1988 at several universities. Valdes also served as a professor in a postgraduate program in Business at the ESE School Business of Universidad Los Andes.

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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 Principal Financial Group®. In this capacity, he oversees the business management and strategic direction of the Capital Markets and Corporate Services areas, provides executive oversight for Human Resources, as well as the investment policies and performance of the invested assets for Principal®.

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. In 1997 was appointed director, for Principal International, where he oversaw the pension and investment operations in Monterrey, Mexico. In 2003 he was elected second vice president, Mergers and Acquisitions, and in 2004 he was appointed executive director and head of equities for Principal Global Investors. Dunbar was named senior vice president of Strategy & Finance in 2011, then named SVP and Chief Investment Officer in 2013, and assumed his current position in 2014.

A native of Osceola, Iowa, Dunbar earned his bachelor's degree from Iowa State University in Ames, Iowa. He is a member of the board of directors for Claritas Administração de Recursos Ltda. / Claritas Investments, Ltd. (Claritas), BrasilPrev Seguros e Previdência S.A. (BrazilPrev), CMBS Management Committee, Private Real Estate Management Committee, REITS Management Committee, and the Greater Des Moines Botanical Center. He serves as the chairman for PrinPac and is on an investment subcommittee for Bread for the World.

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

Gary P. Scholten is the executive vice president, chief information officer and chief digital officer of Principal Financial Group®. He’s responsible for overseeing the company’s use of Information Technology and driving digital strategy into all aspects of the business. He also leads the company’s use of offshore resourcing and oversees Global Sourcing.

Scholten joined the company in 1980 as an assistant planning analyst. He held multiple IT positions, was promoted to senior vice present and chief information officer in 2002, and to executive vice president and chief information officer in 2014. He became chief digital officer in 2017.

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. Scholten currently serves on two Principal International Chilean Boards: Principal International de Chile S.A, and Principal Asset Management Chile S.A. Scholten has served as the 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, and joined the group’s executive committee in 2013.

Under Scholten’s leadership, Principal® has consistently been ranked in the top half of Computerworld magazine’s “100 Best Places to Work in IT,” and InformationWeek magazine’s “Top 500 Most Innovative Users of Information Technology,” ranking as the number one company in 2006. Scholten received the University of Northern Iowa’s 2011 Alumni Achievement Award for his overall professional accomplishments.

A native of Larchwood, Iowa, Scholten received his bachelor's degree from the University of Northern Iowa in Cedar Falls.

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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 Principal Financial Group®. She joined 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 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 bachelor’s degree from Northwestern University in political science.

Shaff is past president of the Association of Life Insurance Counsel, and a member of the American, Iowa State and Polk County Bar Associations, and the Association of Corporate Counsel. She is 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 the GuideOne Insurance Companies and Sargasso Mutual Insurance Company, Ltd. Shaff is also Chair of the Animal Rescue League of Iowa Advisory Council and a trustee of Grinnell College.

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Deanna D. Strable , , , Executive Vice President and Chief Financial Officer

Deanna Strable is executive vice president and chief financial officer with Principal Financial Group®.

Strable joined the company in 1990 as an actuarial assistant. She held various actuarial and management roles within Principal and specifically in the Principal’s insurance business from 1995 through 2016. Strable was promoted to president U.S. Insurance Solutions in 2015 and executive vice president in 2016. Strable’s current position was effective February 2017.

In addition to her role within Principal®, Strable currently serves as past-chair of the Board of Directors for LIMRA LOMA Global (LL Global, Inc) and is a member of the Board of Directors for Simpson College. She also serves on various committees for the United Way of Central Iowa.

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

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

Brady joined 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 led multiple turnaround work efforts leading to her transformational leadership style. She also served in key senior marketing leadership roles in support of strategic initiatives for the growth and success of various business units, including Progresso, 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, IMB CMO Council, and Global Retail Marketing Association Financial Service and Insurance Services Council. She holds positions on the boards of The Principal Charity Classic, a Champions Tour event sponsored by Principal, as well as the executive committee for The Des Moines Arts Festival, and co-chair of the United Way of Central Iowa Media and Communication cabinet

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Gregory J. Burrows , , , Senior Vice President, Retirement and Income Solutions

Gregory J. Burrows is senior vice president, Retirement and Income Solutions with 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®.

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.

Elming is a member of the North American CRO Council, and the Advisory Board of the Vaughn Institute of Risk Management and Insurance at the University of Iowa. He is also a Fellow of Life Management Institute (FLMI).

An Iowa native, Elming received his bachelor's degree from the University of Iowa.

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

Julia Lawler is Senior Executive Director Multi-Asset Allocation at Principal Financial Group®.

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 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 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 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 Principal Financial Group®.

Menken joined 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 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 Income Solutions

Jerry Patterson is senior vice president, Retirement and Income Solutions (RIS) with 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 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 in 2012. Before joining 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. Raymond is senior vice president and Chief Human Resources Officer with 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 Principal® 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 Wells Fargo, formerly known as 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 currently a member of The Conference Board for CHROs, CEB, WorldatWork and Society for Human Resources Management and serves as a board member on a non-profit focused on serving the homeless and hungry in the Des Moines area.

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

Angela R. Sanders is senior vice president and controller for 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 and most recently served as chief operating officer, Principal International Latin America. In this role, he was responsible for the development and execution of the business strategy in Latin America and development of 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, and head of funds management overseeing Latin America and Asia mutual funds and asset management services.

Prior to joining Principal Chile, he was chief investment officer of Citibank Global Asset Management and managing director of Citibank Asset Management in Chile.

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.

Walker serves on the boards of BrasilPrev Seguros & Previdencia (Brazil), Claritas (Brazil), Principal Financial Group, Principal AFORE & Principal Fund Manager (Mexico), Principal International (Chile), and AmCham Chile (American Chamber).

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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 Principal Financial Group®. She is responsible for four boutiques: Principal Global Equities, Edge Asset Management, Aligned Investors 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. This includes oversight of compliance, operations and IT globally.

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

McKenzie received her bachelor's degree from the University of Iowa in Iowa City, and her master's degree from Indiana University in Bloomington, Ind. She is a Fellow of the Life Office Management Institute. She is a director of the University of Iowa Foundation and serves on their Investment Committee. She also is on the Advisory Board for the IU Center for Real Estate Studies.

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

Ellen W. Shumway is a Senior Executive Director-Strategy and Boutique Operations with Principal Global Investors, the diversified asset management organization and a member of Principal Financial Group®.

In this role, Shumway 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.

Shumway joined Principal® in 2005 as vice president-Corporate Strategic Development. Prior to that, she spent 15 years at McKinsey & Company in the Chicago, Ill. office. She was a partner and leader in the firm’s North American Insurance Practice, heading up the North American Claims Operations and Strategy Practice. Prior to joining McKinsey, she was an assistant treasurer at J.P. Morgan & Company, Inc., in the bank’s Financial Advisory Department.

Shumway received her M.B.A. from the University of Chicago in 1990, where she was elected to Beta Gamma Sigma. She received her bachelor’s degree with honors, from Johns Hopkins University.

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