Principal Financial Group (PFG) Announces Resignation of Roberto Walker
Principal Financial Group® (NASDAQ:) today announced Roberto Walker will retire from Principal® after serving as president of Principal Latin America for more than 12 years. Luis Valdés, former president of Principal International, will rejoin the company on an interim basis as chairman of Latin America until the company names Walker’s successor. During this time, Valdés will report to Pat Halter, president of Principal Asset ManagementSM.
“Roberto has been central to growing Principal Latin America from an emerging business into a significant contributor today,” said Halter. “He’s demonstrated a deep commitment to provide financial security to millions of customers, working with governments across Latin America on sound pension policy, while expanding and building upon the region’s asset management capabilities. We’re grateful for his leadership and his passion as he’s led this business for more than 12 years.”
Walker will retire from Principal on June 30, 2023, after 27 years serving in several leadership roles in Latin America. During his career at the company, he led the development and growth of the region’s pension and mutual fund businesses from an emerging business to a regional market leader. He drove the joint venture relationship between Principal and Banco do Brasil and orchestrated acquisitions in the mandatory pension markets of Chile and Mexico, including AFP Cuprum in 2013. During his time as president of Latin America, assets under management grew from $33 billion in 2010 to $125 billion at year-end 2022, while advancing a customer centric organization and the region’s digital transformation.
Valdés will rejoin Principal on an interim basis until Walker’s successor is named. He previously worked in the company’s international operations for 26 years, leading the business for nine of those years. While he retired in March 2021, he’s continued to serve as chairman of the Principal International board, serving as a key advisor to management.
In his role as chairman for Latin America, Valdés will be responsible for the business strategy and operations for the region which includes Brazil, Chile, Mexico, and joint venture relationships between Principal and Banco do Brasil.
This story originally appeared on Investing