CIMB-Principal Asset Management Group Announces New Chief Executive Officer of ASEAN

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Former CEO of ASEAN, Alejandro Echegorri to assume role as Chief Investment Officer with Principal Asia

KUALA LUMPUR, Malaysia & BANGKOK, Thailand & JAKARTA, Indonesia & SINGAPORE–(BUSINESS WIRE)–Dec. 12, 2018

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.

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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 www.cimb-principal.com.

About CIMB-Principal Asset Management Berhad

CIMB-Principal Asset Management Berhad, headquartered in Malaysia is a premier asset management company with regional investment capabilities. Established in 1995, it is one of the largest asset management companies in Malaysia, successfully growing operations across Singapore, Indonesia and Thailand.

The CIMB-Principal group of companies includes 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.

The Group has MYR 80 billion in Assets Under Management as of October 2018, and is one of the largest asset managers in the region offering total asset management solutions. It manufactures and distributes a comprehensive range of unit trust funds, and manages customised portfolio mandates for corporations, institutions, government and pension funds. Its regionally integrated team of dedicated investment professionals offers expertise in equity, fixed income, cash management, and Shariah-compliant fund management though the CIMB-Principal Islamic Asset Management Company.

CIMB-Principal is jointly owned by CIMB Group, one of Southeast Asia’s leading universal banking groups; and Principal Financial Group, U.S.A., a Nasdaq-listed global financial services and leading Fortune 500 company.

Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, In., a member of the Principal Financial Group.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005834/en/

Contact:

Kim Thean Soo, Principal International South Asia
+603 20842032, kim.theansoo@principal.com