KUALA LUMPUR: Principal Financial Group (Principal) announced recently that it will rebrand its asset management operations in Asean, a joint-venture with CIMB Group Holdings Bhd (CIMB).
The company formerly known as CIMB-Principal Asset Management Bhd will be named Principal Asset Management Bhd (Principal) and CIMB-Principal Islamic Asset Management Sdn Bhd will be named Principal Islamic Asset Management Sdn Bhd (Principal Islamic).
“Helping clients achieve their lifetime financial goals is at the heart of what Principal stands for.
“A focus that has not changed since our very beginning 140 years ago,” said Principal Asia president Thomas Cheong.
“Now, we are reinforcing our global commitment to our Asian markets to help our customers save, plan and invest for their financial security through our retirement and long-term savings franchise,” he added.
“As a leading Asean bank, asset management remains a core focus of our regional banking business.
“With CIMB’s extensive Asean-wide distribution network and Principal’s investment expertise, our continued alliance will strengthen the joint-venture in providing more specialised, innovative, and differentiated investment products and services that meet the long-term needs of Asean’s retail and institutional investors,” said CIMB Group Ventures and Partnerships CEO Effendy Shahul Hamid.