Principal Financial Group, Inc. - PFG STOCK NEWS

Principal Financial Group announced that Anthony Shea Treadway will join as senior vice president and head of U.S. Insurance Solutions Distribution effective November 7. Treadway, a 20-year industry veteran, previously held leadership roles at Unum and Colonial Life, focusing on strategic distribution and technology solutions. President Amy Friedrich emphasized his role in enhancing distribution channels for growth and profitability. Principal employs over 18,500 people and serves over 54 million customers.

Principal Financial Group (Nasdaq: PFG) will release its third quarter 2022 financial results on October 27, shortly after the U.S. markets close. A conference call is scheduled for October 28 at 10 a.m. ET, featuring CEO Dan Houston and CFO Deanna Strable discussing the results. Investors can access the conference via webcast or telephone, with additional details available on their investor website. An audio replay will be available two hours post-call until October 31.

Principal Financial Group has announced its investment unit will operate under the name Principal Asset Management, reinforcing its focus on asset management. The firm, which manages $507.1 billion in assets, aims to enhance client outcomes through improved investment strategies and digital solutions. CEO Dan Houston emphasized that this rebranding aligns with market demands for global investment solutions. The company targets a diverse client base, including over 800 investors in more than 80 markets, as it seeks to unify its investment teams and expand product offerings.

A recent survey by the Plan Sponsor Council of America indicates that employer contributions to 403(b) plans rose nearly 24% year-over-year, from 4.6% in 2020 to 5.7% in 2021. The survey, which included over 300 nonprofits, found that 83.4% of eligible employees participated in retirement plans, and average contributions increased to $4,887. Notably, financial wellness programs surged by 37%, highlighting a strong focus on financial literacy among organizations. The report reflects recovery in contributions post-COVID-19, albeit still below pre-pandemic levels.

Principal Financial Group participated in a regional event in Detroit to celebrate National American Business Women’s Day, hosted by the Small Business Digital Alliance (SBDA). The event featured a panel of business leaders discussing the integration of digital tools into sustainable business models. Key speakers included Isabella Casillas Guzman, Administrator of the U.S. Small Business Administration, and Amy Friedrich, President of U.S. Insurance Solutions at Principal. The discussions emphasized financial inclusion and the importance of digital resources for small business growth.

Principal Financial Group released the inaugural Global Financial Inclusion Index, ranking 42 markets based on financial inclusion indicators. Singapore and the U.S. lead the ranking, while Argentina ranks last. The Index highlights that developed economies generally perform better in government and financial system support, while emerging economies excel in employer support. Key insights suggest a strong correlation between financial inclusion and societal factors such as economic resilience and standards of living.

Post Advisory Group has announced the hiring of Kevin Farley as a portfolio manager for its CLO and structured credit platform. This addition aims to enhance the firm's investment capabilities, focusing on offering strategies with strong downside protection and low volatility. Farley brings over 25 years of experience, including significant expertise in structured credit, previously working at Wells Fargo Securities and Citadel Securities. His role will help manage the firm’s CLO and structured credit solutions, including the recently raised Post CLO Equity Master Fund.