Industry Veteran Joins Principal® to Lead New Global Platforms Unit to Accelerate Growth of Asset Management Business

DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® announced today that Barbara Wenig has joined its global asset management business, Principal Global Investors®, as executive director of global operations and platforms experience. In this newly created role, Wenig will be a key contributor to advancing the firm’s strategic initiatives and growing global platforms in partnership with the distribution and investment teams for Principal Global Investors.

Barbara has a wealth of knowledge and experience from overseeing operating platforms across global regions, and she fills a critical role in allowing us to deliver innovative capabilities to our retail, institutional, and retirement clients,” said Kamal Bhatia, chief operating officer, Principal Global Investors, and president, Principal Funds. “Barbara’s strong track record and deep understanding of client service, relationship management, business analytics, and business transformation efforts will be instrumental in helping us guide our global growth across public and private markets.”

Principal Global Investors has expanded and shifted its business to meet the growing needs of its clients over the past year. With nearly 25 years of finance and investment experience, Wenig will assume leadership of operations and global platforms, including international funds and ETF products in collaboration with investment model providers and partners. She will also oversee client, fund, and investment operations to further strengthen the firm’s globally integrated operating model.

Wenig comes to Principal Global Investors from Neuberger Berman LLC where she gained a reputation for developing and driving global operating models and planning and executing against complex business strategies. She has created, managed, and led cross-functional, transformational initiatives that have achieved operational efficiency and desirable outcomes for clients. Wenig, who has earned the right to use the Chartered Financial Analyst designation, is also a champion for Diversity, Equity, and Inclusion initiatives and is committed to talent development and retention.

About Principal Financial Group®

Principal Financial Group® (Nasdaq: PFG) is a global financial company with 18,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 45.5 million customers2 plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the World’s Most Ethical Companies3, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management4.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.

About Principal Global Investors®

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

At our core, we are driven by our purpose to help investors and businesses achieve their financial goals. Our global investment professionals deliver 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 $576.8 billion in assets on behalf of over 800 institutional clients located in over 80 markets as well as retirement plans and individual clients, reflecting our worldwide market reach and experience and our commitment to high-quality research and service (as of June 30, 2021). To find out more, visit us at principalglobal.com.

Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. © 2021 Principal Financial Services, Inc.

1 As June 30,2021

2 As June 30,2021

3 Ethisphere Institute, 2021

4 Pensions & Investments, 2020

Contacts

Phillip Nicolino, 515-362-0239, [email protected]

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