Principal® Brings in Industry Veteran to Lead Liability-Driven Investing Capability for Pension Plans

DES MOINES, Iowa–(BUSINESS WIRE)–Main financial group® today announced the addition of Owais Rana to its global asset management business, Principal Global Investors®, as Head of Liability Driven Investing (LDI). In this newly created role, Rana will lead the growth of this grassroots investment opportunity, enhancing the firm’s industry-leading retirement servicing capabilities and bringing deep investment and risk management expertise to her clients. of retirement.

“Owais understands the complexities faced by pension plan clients and has spent more than 20 years designing, building and managing pension solutions,” said Kamal Bhatia, COO, Principal Global Investors. “While our global asset management expertise continues to underpin our industry-leading retirement capabilities, he brings extensive strategic experience and a deep passion for solving the challenges of this unique clientele.”

Liability-based investing is an area of ​​interest and growth for Principal®, and Principal Global Investors currently manages $21.5 billion. [1] in liability-oriented investment portfolios. This focus on LDI will further strengthen private markets and solutions capabilities, two strategic imperatives for the firm’s asset management business. Investment capability contributes to the comprehensive retirement solutions that Principal offers to its clients, including the Principal® Comprehensive Retirement Solution [2]a technology-driven approach to retirement risk management that can be tailored to the needs of each plan.

“Pension management and risk reduction is a pressing need for employers of all sizes in the United States, and as a national leader in defined benefits, we are focused on improving our offerings to meet to their needs,” said Chris Littlefield, President of Retirement and Income Solutions for Principal, “Owais will bring critical expertise to help deliver the LDI solutions our clients need to meet their retirement-related challenges and opportunities.”

Rana joins Principal Global Investors from Moody’s Analytics, where he was responsible for designing and directing business development and marketing strategies for North American institutional asset owners, investment and actuarial consultants and asset management companies. Prior to Moody’s, Rana held managing director positions at Conning Asset Management and JP Morgan Asset Management, where he was global head of LDI, responsible for designing, building and managing the LDI solutions business to develop assets. under management.

With a focus on higher growth opportunities, the LDI segment provides Principal with an opportunity to scale a key retirement offering through deep investment expertise, providing clients with a solid set of opportunities to all of their retirement service needs. Principal is the market leader in defined benefit pension plans [3] and a leader in pension risk transfer [4] through its Principal® total retirement solutions.

[1] As of March 31, 2022.

[2] Patent pending.

[3] Based on number of plans, PLANSPONSOR Defined Benefit Administration Survey, May 2021.

[4] #4 in the industry based on total PRT assets, LIMRA Secure Retirement Institute, December 2021.

About Principal Financial Group®

Main financial group® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for over 140 years, we help over 51 million customers1 plan, protect, invest and retire, while working to support the communities where we operate and build a diverse and inclusive workforce. Major® is proud to be recognized as one of America’s 100 Most Sustainable Companies2a member of the Bloomberg Gender Equality Index, and a top 10 workplace in financial management3.” Learn more about Principal and our commitment to building a better future at principal.com.

1 As of December 31, 2021

2 Barrons, 2022

3 Pensions and investments, 2021

About the world’s leading investors

Top Global Investors® leads global asset management at Principal®. As a multi-investment firm, we bring a focused perspective and offer expertise across a multitude of asset classes.

At our core, we are driven by our goal of helping investors and businesses achieve their financial goals. Our global investment professionals provide investment solutions for public and private pension funds, foundations and endowments, central banks, insurance companies, sub-advisory arrangements, sovereign wealth funds and individual portfolios.

Principal Global Investors manages approximately $579.4 billion in assets on behalf of over 800 institutional clients located in more than 80 markets as well as pension plans and individual clients, reflecting our reach and experience in the global market and our commitment to high quality research and service (as of March 31, 2022). To learn more, visit us at principalglobal.com.

About Principal Life Insurance Company

Insurance products and plan administration services provided through Principal Life Insurance Company®member of the Principal Financial Group®Des Moines, IA 50392. Certain investment options and contract endorsements may not be available in all states or US commonwealths.

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