MutualFundWire.com: Principal Taps Sales and Marketing Head

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Monday, June 5, 2000

Principal Taps Sales and Marketing Head

The Principal Financial Group is bringing together its marketing and sales organizations the small to medium business for retirement market. The insurer also announced that Michael Daley, 44, will lead these efforts as executive vice president. In addition he will be closely involved in the company's emerging e-business strategy.

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Daley joins Principal from CIGNA Corporation's Retirement and Investment Services Division, based in Hartford, Conn., where he most recently served as senior vice president and general manager of the Defined Contribution Business, as well as head of Strategy & Marketing. Prior to his posts there, Daley held various management positions at Bankers Trust Company, T. Rowe Price Associates and Quaker Oats Company.

"Bringing together our U.S. marketing and sales teams into a single unit enables us to capitalize on our leadership in the small to medium business marketplace," said J. Barry Griswell, president and chief executive officer - the Principal Financial Group. "A seasoned strategist with a proven track record in marketing, distribution and product management in retail and institutional financial services environments, Mike brings added strength to our existing management team. The breadth and depth of this team further positions The Principal as a powerful force in the retirement marketplace."

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