Principal Financial Group has appointed Kamal Bhatia as the incoming president and CEO of Principal Asset Management.
Effective February 10, 2024, Bhatia, currently global head of investments and president of Principal Funds, will succeed Pat Halter. During this transition period, as he prepares to retire on April 2, 2024, Halter will take on the interim role of division president.
Bhatia will be responsible for strategy, investment performance and client growth for the global investment unit, including the general account.
He will lead the expansion of the firm’s global and local offerings with a focus on specialty public and private investment capabilities, multi-asset products and retirement solutions to meet the needs of its institutional, wealth and retirement clients.
Bhatia joined Principal in 2019 as president and CEO of Principal Funds, later serving as COO for the asset management business in 2020 and global head of investments in 2023. Before Principal, he held leadership roles at OC Private Capital, OppenheimerFunds, TIAA-CREF Asset Management, Mellon Asset Management and Citigroup.
“Asset management is a core growth driver for Principal and the investment engine behind the company’s global retirement and benefits and protection businesses,” said Dan Houston, chairman, president, and CEO of Principal.
© 2024 funds europe
