Principal Financial Group issued the following announcement on Dec. 13.

CIMB-Principal Asset Management Group today announced Juan Ignacio Eyzaguirre Baraona as the new Chief Executive Officer of ASEAN who will oversee businesses across the region including CIMB-Principal Asset Management Berhad and CIMB-Principal Islamic Asset Management Sdn Bhd in Malaysia, PT CIMB-Principal Asset Management in Indonesia, CIMB-Principal Asset Management Company Limited in Thailand and CIMB-Principal Asset Management Pte Ltd in Singapore. His appointment is subject to approvals by Malaysia’s Securities Commission and Immigration Department.

CIMB-Principal Asset Management group of companies are jointly owned by Principal Financial Group® (Principal®) and CIMB Group Holdings Berhad (CIMB). “This is an exciting time for CIMB-Principal Asset Management as we grow our presence in Southeast Asia. Juan’s 30 years of leadership experience in asset management, banking, insurance and pensions will help us to strengthen our long-term savings, investments and retirement solutions across the region,” said Pedro Borda, President of South Asia and India for Principal International.

Alejandro Echegorri, who served as Chief Executive Officer of ASEAN for CIMB-Principal Asset Management group of companies since March 2015 will assume a new role as Chief Investment Officer for Principal International in Asia effective February 2019.

“In his new role, Alejandro will collaborate with investment teams throughout the CIMB-Principal Asset Management group of companies and across Asia to help Principal enhance our focus on delivering improved performance for our customers, stakeholders, and investors,” said Luis Valdes, Chief Executive Officer and President, Principal International.

To find out more, visit cimb-principal.com.

Original source: https://www.principal.com/about-us/news-room/news-releases/cimb-principal-asset-management-group-announces-new-chief-executive-officer-asean