Principal Financial Group Inc. PFG has appointed Deanna D. Strable-Soethout as its chief financial officer, effective Feb 2017. Strable will succeed the present CFO and executive vice president Terry J. Lillis, who retires in Apr 2017.
Strable’s appointment to the position is part of the planned succession process of the company. She will assume the post of executive vice president of Principal Financial the company immediately. Also, Deanna Strable will retain her current position as president of United States Insurance Solutions until the company finds a successor.
Strable has been associated with Principal Financial for more than two decades. According to Dan Houston, chairman, president and CEO of Principal Financial, “Deanna’s prior experience at running one of our most successful businesses and strong financial expertise uniquely qualifies her to be our next CFO.” Currently, Strable is accountable for individual life, non-qualified deferred compensation, individual disability and group benefits.
Principal Financial’s strategy of heightening focus on fee-based revenue sources (approximately 70% expected to come from it by 2018) have been helping it earn steadily. This strategy of the company has also helped it to limit exposure to interest rate environment. Moreover, the company has been tapping opportunities in emerging economies and pursuing strategic acquisitions and initiatives to ramp up its growth profile. The company also engages in effective capital deployment. Strable’s experience and expertise should support the company in achieving its goals.
Zacks Rank and Other Stocks to Consider
Principal Financial presently carries a Zacks Rank #2 (Buy). Investors interested in investment managers can look at Apollo Global Management, LLC APO, BlackRock, Inc. BLK and Eaton Vance Corp. EV. While Apollo Global sports a Zacks Rank #1 (Strong Buy), BlackRock and Eaton Vance carry Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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