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Principal Financial names senior vice president



By AP
23 May 2008 @ 11:40 am EST

DES MOINES, Iowa - Retirement and financial services company Principal Financial Group Inc. has named a new senior vice president.

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Terry Lillis, vice president and chief financial officer for the company's retirement and investor services division, will assume his new position effective immediately, the company said Thursday.

Lillis will also assume the title of chief financial officer on Aug. 7 when CFO Michael H. Gersie retires.

Lillis joined the Des Moines-based provider of retirement, insurance, investment and banking services in 1982 as an actuarial student. He was elected an officer in 1988 and has held various senior actuarial and management roles through 2000, when he was named CFO of the retirement and investor services division.

Principal Financial is a Fortune 500 company with $304 billion in assets under management.

Shares closed 2 percent on Thursday, or $1.10 higher at $53.67. They have traded in a 52-week range of $47.23 and $70.85.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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