“The acquisition of Morley Financial represents a strong strategic fit for Principal Global Investors as we continue to strengthen our portfolio of offerings suitable for retirement investing and other long-term investment strategies,” said Jim McCaughan, chief executive officer of Principal Global.
“Stable value, at more than 10% of the 401(k) market assets, is an important capability, one we believe Baby Boomers will increasingly demand as they more toward retirement and seek investment options to preserve their capital and generate income,” he added. In addition, the acquisition will allow the company to offer absolute return strategies, he said.
Morley Managing Director and CIO Jill Cuniff will continue to run Morley Financial, and the company will retain its name and organizational structure.
