Principal Capital has created a new position to bring together the firms global fixed-income capabilities. Gloria Reeg has been named president of Principal Capital Income Investors, which is based in the U.S., and will oversee the firms international affiliates, including the fixed income unit of Australia-based BT Funds Management.
Principals global fixed income units will be brought together from a marketing standpoint under Reeg, said Jennifer Fletcher, a spokeswoman for Principal. Reeg, who will oversee more than 90 fixed income investment professionals, will be charged with expanding Principals global institutional business, the firm said. Principal currently manages about $47 billion in fixed income assets.