Principal Global Investors (PGI) has appointed Frank Richter to lead the firm’s German and Austrian operations, building on its European presence as an established, multi-boutique investment player.
Richter (pictured), will be responsible for fostering relationships with financial intermediaries and institutional investors to ensure they have the investment solutions they need.
While Principal has been in Germany since 2003, this will be the first time PGI is also focusing on serving the Austrian market as well.
“PGI has a strong track record operating in Germany, and we see a lot of growth opportunities in the region for our broad range of investment solutions, including bringing more focus to Austria,” says Tim Stumpff, CEO of Principal Global Investors Europe. “With more than 20 years in the asset management industry, Frank’s wealth of experience working in Germany and Austria will be an important and valuable addition for the firm to continue to grow and to support products across multiple asset classes.”
Richter joins Principal from Standard Life Investments where he served as country head and head of institutional business for Germany and Austria. During this time, he oversaw and developed wholesale and institutional sales teams and executed distribution strategies. Prior to this, he was head of institutional business for Germany and Austria for AXA Investment Managers.
“It is exciting to join a global team that is investing in and continuing to grow its European business,” says Richter. “I look forward to bringing Principal’s wide range of investment strategies, including those from the recently-announced acquisition of Internos, to more clients.”