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The Principal Financial Group Names Cheong Vice President of North Asia for Principal International

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The Principal Financial Group(R) today announced Thomas Cheong will join the organization in a new role as vice president of North Asia for Principal International. Cheong will oversee Principal International operations and relationships in mainland China and Hong Kong, and will work closely with Principal Global Investors Asia business partners and joint venture partners in the region. Cheong will report to Rex Auyeung, president, Principal International (Asia), and will begin in early January.

“As we extend our franchise of long-term savings and asset management capabilities in the region, it is critical to also broaden our management team in Asia,” said Luis E. Valdes, president of Principal International. “We are excited about Thomas joining The Principal and bringing his extensive knowledge in the Asian financial services industry to the organization.”

Before joining The Principal, Cheong was CEO and executive director of Manulife Asset Management in Taiwan. He also worked as a vice president at China Asset Management in Shanghai, and CEO for Prudential Funds Management in Malaysia.

Cheong has a bachelor’s degree in economics from the London School of Economics and an MBA from Washington University – Fudan University Executive MBA Program.

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About the Principal Financial Group
The Principal Financial Group(R) (The Principal(R))1 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500(R), the Principal Financial Group has $513.5 billion in assets under management2 and serves some 19.5 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

1 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
2 As of Sept. 30, 2014.

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