AdviserVoicePrincipal Financial Group Archives - AdviserVoice https://www.adviservoice.com.au/source/principal-financial-group/ Financial planner information & financial planner education/CPD - AdviserVoice Thu, 04 Jun 2026 21:30:42 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Principal Financial Group® announces Global Financial Inclusion Index https://www.adviservoice.com.au/2022/04/principal-financial-group-announces-global-financial-inclusion-index/ https://www.adviservoice.com.au/2022/04/principal-financial-group-announces-global-financial-inclusion-index/#respond Thu, 21 Apr 2022 21:35:04 +0000 https://www.adviservoice.com.au/?p=81240

Dan Houston

Principal Financial Group® has announced it will launch the Global Financial Inclusion Index (“Index”) in collaboration with the Centre for Economics and Business Research (Cebr).

The inaugural Index and its analysis will uncover key drivers shaping financial inclusion and exclusion across governments, employers, and the financial services industry in 40+ markets. The report, scheduled for September, will assess how these systems promote financial inclusion, as well as examine global consumer perspectives on how secure individuals feel. The goal of the Index is to fuel actionable insights that can help improve financial inclusion now and in the future.

Financial insecurity affects billions of people around the globe

Global financial insecurity represents one of the world’s greatest challenges and opportunities. Pre-pandemic, 1.7 billion people globally[1] were reportedly not served by a bank or financial institution. The effects of the pandemic brought increased rates of poverty and widened the wealth and income gap,[2] further exacerbated by the recent sharp spike in energy prices.

“Financial inclusion is at the foundation of global economic progress,” said Dan Houston, chairman, president, and CEO of Principal®. “When people are excluded from the financial system it hinders their ability to earn, prepare for and recover from crises, as well as build for the future. Our Global Financial Inclusion Index will provide a clear, measurable view of financial inclusion so we can influence change and help more people and businesses have greater access to financial security.”

A commitment to making financial security more accessible

Principal is committed to long-term, responsible, and sustainable actions to create economic opportunity for generations to come. As part of the Principal environmental, social, and governance (ESG) strategy, largely aligned to the UN Sustainable Development Goals, the company has outlined measurable commitments to advance inclusive products, services, and communities and to meet more individuals and businesses where they are in their financial journey. In addition, The Principal Financial Group Foundation, Inc. is investing $30 million between 2021 and 2022 to help meet basic needs, develop pathways toward economic mobility, and support financial empowerment and development with a focus on entrepreneurs, small businesses, and diverse populations.

With the Index, Principal will further its focus on seeking to help all people have access to effective systems and affordable resources, solutions, and advice.

A clear understanding of financial inclusion can advance global economic progress

The Index will use employer and consumer surveying alongside verified public data to create a financial inclusion scoring system. Through consideration of these key data points, the Index will evaluate the degree to which governments promote financial inclusion, examine the availability and uptake of financial products and services for populations, and assess the level of support employers provide to their employees in each market.

As such, the Index will serve as a comprehensive and insightful resource used across sectors – from policymakers, academia, and non-governmental organizations (NGOs) to businesses and the financial services industry. It will also serve as an assessment for awareness, action-planning and resource allocation.

The Index will help Principal and key stakeholders:

  • Add dimension to the ongoing dialogue on financial inclusion as a core component of financial security.

  • Use data-driven insights to have a clear understanding of the barriers to financial security and produce alternate pathways that broaden access to financial solutions and support.

  • Advocate for financial systems that enable long-term financial security, stability, and advancement.

  • Determine impactful collaboration opportunities to help drive positive change.

——–

[1] UNSGSA, 2017[2] World Bank, 2021
[3] Principal’s environmental, social, and governance (ESG) strategy
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Dan Houston

Principal Financial Group® has announced it will launch the Global Financial Inclusion Index (“Index”) in collaboration with the Centre for Economics and Business Research (Cebr).

The inaugural Index and its analysis will uncover key drivers shaping financial inclusion and exclusion across governments, employers, and the financial services industry in 40+ markets. The report, scheduled for September, will assess how these systems promote financial inclusion, as well as examine global consumer perspectives on how secure individuals feel. The goal of the Index is to fuel actionable insights that can help improve financial inclusion now and in the future.

Financial insecurity affects billions of people around the globe

Global financial insecurity represents one of the world’s greatest challenges and opportunities. Pre-pandemic, 1.7 billion people globally[1] were reportedly not served by a bank or financial institution. The effects of the pandemic brought increased rates of poverty and widened the wealth and income gap,[2] further exacerbated by the recent sharp spike in energy prices.

“Financial inclusion is at the foundation of global economic progress,” said Dan Houston, chairman, president, and CEO of Principal®. “When people are excluded from the financial system it hinders their ability to earn, prepare for and recover from crises, as well as build for the future. Our Global Financial Inclusion Index will provide a clear, measurable view of financial inclusion so we can influence change and help more people and businesses have greater access to financial security.”

A commitment to making financial security more accessible

Principal is committed to long-term, responsible, and sustainable actions to create economic opportunity for generations to come. As part of the Principal environmental, social, and governance (ESG) strategy, largely aligned to the UN Sustainable Development Goals, the company has outlined measurable commitments to advance inclusive products, services, and communities and to meet more individuals and businesses where they are in their financial journey. In addition, The Principal Financial Group Foundation, Inc. is investing $30 million between 2021 and 2022 to help meet basic needs, develop pathways toward economic mobility, and support financial empowerment and development with a focus on entrepreneurs, small businesses, and diverse populations.

With the Index, Principal will further its focus on seeking to help all people have access to effective systems and affordable resources, solutions, and advice.

A clear understanding of financial inclusion can advance global economic progress

The Index will use employer and consumer surveying alongside verified public data to create a financial inclusion scoring system. Through consideration of these key data points, the Index will evaluate the degree to which governments promote financial inclusion, examine the availability and uptake of financial products and services for populations, and assess the level of support employers provide to their employees in each market.

As such, the Index will serve as a comprehensive and insightful resource used across sectors – from policymakers, academia, and non-governmental organizations (NGOs) to businesses and the financial services industry. It will also serve as an assessment for awareness, action-planning and resource allocation.

The Index will help Principal and key stakeholders:

  • Add dimension to the ongoing dialogue on financial inclusion as a core component of financial security.

  • Use data-driven insights to have a clear understanding of the barriers to financial security and produce alternate pathways that broaden access to financial solutions and support.

  • Advocate for financial systems that enable long-term financial security, stability, and advancement.

  • Determine impactful collaboration opportunities to help drive positive change.

——–

[1] UNSGSA, 2017[2] World Bank, 2021
[3] Principal’s environmental, social, and governance (ESG) strategy

The post Principal Financial Group® announces Global Financial Inclusion Index appeared first on AdviserVoice.

]]> https://www.adviservoice.com.au/2022/04/principal-financial-group-announces-global-financial-inclusion-index/feed/ 0 Principal and CIMB Group to realign ownership stakes in joint ventures across Southeast Asia https://www.adviservoice.com.au/2018/01/principal-cimb-group-realign-ownership-stakes-joint-ventures-across-southeast-asia/ https://www.adviservoice.com.au/2018/01/principal-cimb-group-realign-ownership-stakes-joint-ventures-across-southeast-asia/#respond Mon, 15 Jan 2018 20:35:12 +0000 https://adviservoice.com.au/?p=52932

Principal Financial Group (“Principal”) and CIMB Group Holdings Berhad (“CIMB”) have announced that they have signed agreements for Principal to gain additional ownership of the CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management, pending regulatory approval.

Once complete, Principal will increase its ownership stake to 60 percent with CIMB retaining 40 percent ownership in the entities. The joint ventures will continue to be co-managed by both companies.

“Southeast Asia is a growing and important region for Principal as we focus on bringing long- term saving and investing products to the market,” said Pedro Borda, president of Southeast Asia and India for Principal. “By increasing our ownership stake in the CIMB-Principal joint ventures, we will be better able to bring our global asset management expertise and experience to bear while still leveraging the multi-channel distribution power of CIMB to continue to serve our customers.”

This transaction is expected to be completed in the second quarter of 2018 and is subject to the relevant regulatory approvals across the region. Principal will pay CIMB up to MYR470.3 million (approximately US$117 million*) for the additional ownership stake.

“As a leading ASEAN universal bank, asset management continues to be an integral part of our regional banking business. This shareholding realignment will ensure that our asset management joint venture with Principal achieves its maximum potential and continues to be sustainably value- accretive to CIMB,” said Tengku Dato’ Sri Zafrul Aziz, Group Chief Executive Officer, CIMB Group. “Scale and extensive investment expertise are important to this business and we believe this strategic realignment will enhance the value proposition of the joint venture to enable us to serve our customers better.”

The new ownership and governance structure will strengthen the joint ventures’ capability to provide specialized and differentiated products and services to meet customer needs. It will further align existing investment management teams with the asset management arm of Principal, Principal Global Investors, and leverage the firm’s global distribution capabilities and asset management franchise.

CIMB Group and Principal have partnered in the region since 2004 and have successfully grown their operations across Malaysia, Singapore, Indonesia and Thailand. The CIMB-Principal Asset Management group of companies has more than MYR70 billion in AUM and is one of the largest asset managers in the region. CIMB-Principal Islamic Asset Management has been managing Islamic institutional mandates since 2008 and is the sole end-to-end Islamic asset management boutique of the CIMB Group and Principal Financial Group.

* Based on a spot foreign exchange rate of 4.0033 MYR to 1 USD on the Interbank Foreign Exchange Market in Kuala Lumpur as of close of trading on January 10, 2018.
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Principal Financial Group (“Principal”) and CIMB Group Holdings Berhad (“CIMB”) have announced that they have signed agreements for Principal to gain additional ownership of the CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management, pending regulatory approval.

Once complete, Principal will increase its ownership stake to 60 percent with CIMB retaining 40 percent ownership in the entities. The joint ventures will continue to be co-managed by both companies.

“Southeast Asia is a growing and important region for Principal as we focus on bringing long- term saving and investing products to the market,” said Pedro Borda, president of Southeast Asia and India for Principal. “By increasing our ownership stake in the CIMB-Principal joint ventures, we will be better able to bring our global asset management expertise and experience to bear while still leveraging the multi-channel distribution power of CIMB to continue to serve our customers.”

This transaction is expected to be completed in the second quarter of 2018 and is subject to the relevant regulatory approvals across the region. Principal will pay CIMB up to MYR470.3 million (approximately US$117 million*) for the additional ownership stake.

“As a leading ASEAN universal bank, asset management continues to be an integral part of our regional banking business. This shareholding realignment will ensure that our asset management joint venture with Principal achieves its maximum potential and continues to be sustainably value- accretive to CIMB,” said Tengku Dato’ Sri Zafrul Aziz, Group Chief Executive Officer, CIMB Group. “Scale and extensive investment expertise are important to this business and we believe this strategic realignment will enhance the value proposition of the joint venture to enable us to serve our customers better.”

The new ownership and governance structure will strengthen the joint ventures’ capability to provide specialized and differentiated products and services to meet customer needs. It will further align existing investment management teams with the asset management arm of Principal, Principal Global Investors, and leverage the firm’s global distribution capabilities and asset management franchise.

CIMB Group and Principal have partnered in the region since 2004 and have successfully grown their operations across Malaysia, Singapore, Indonesia and Thailand. The CIMB-Principal Asset Management group of companies has more than MYR70 billion in AUM and is one of the largest asset managers in the region. CIMB-Principal Islamic Asset Management has been managing Islamic institutional mandates since 2008 and is the sole end-to-end Islamic asset management boutique of the CIMB Group and Principal Financial Group.

* Based on a spot foreign exchange rate of 4.0033 MYR to 1 USD on the Interbank Foreign Exchange Market in Kuala Lumpur as of close of trading on January 10, 2018.

The post Principal and CIMB Group to realign ownership stakes in joint ventures across Southeast Asia appeared first on AdviserVoice.

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