Principal Bolsters Retirement Division With Leadership Hires

Principal Financial Group announced Tuesday that it has hired four retirement industry leaders to support the growth strategy of its U.S. retirement business.

All four individuals will report to Teresa Hassara, senior vice president of workplace savings and retirement solutions at Principal; Hassara joined the firm about one year ago as the new retirement head.

“Our customers are looking for more sophisticated approaches to run their companies and to provide the best retirement solutions and services to their employees,” said Hassara in a statement. “Each of these new hires reinforces our commitment to working with businesses, advisers, and consultants in strategic and thoughtful ways to maximize trust and value.”

Jeff Cimini joins as vice president of planning, performance and transformation, a newly created role, to lead operational and business planning. According to LinkedIn, Cimini was previously at Voya Financial, serving as head of strategy and financial management, as well as head of institutional product.

Principal has hired Sean Jordan as head of small and midsize market segments, overseeing the strategy and customer care relationships for the two segments. He is tasked with enhancing alignment across marketing, sales, product development and finance. Jordan will work with Joleen Workman, head of Principal’s large market segment, to develop the right combination of services and products within their respective segments. Jordan’s position is new after splitting the small, mid and large market segments into two leadership roles. Workman previously oversaw all three customer segment strategies as vice president of customer care.  

Monica Oswald will serve Principal as vice president of retirement operations, also a newly created role, responsible for optimizing operational processes for retirement and income solutions. Additionally, she will be strengthening digital experiences and resources for customers and employees, according to the company.

Principal has appointed Andrew Matos as head of stock plan services. He will oversee the firm’s employee stock ownership plan and equity compensation plan capabilities, cornerstones of Principal’s total retirement solutions. With more than 15 years of experience in financial services, Matos will lead the overall strategy and growth of the stock plan services. Matos succeeds Amy Keiser, who now serves as vice president of retirement product and solutions.

The changes to the retirement division comes after the Des Moines, Iowa-based firm announced in February the integration of its global asset management and international pension business under the name of Principal Asset Management. The company’s CEO, Dan Houston, told PLANADVISER in March that the asset management division is the “jet fuel” of the business.