Joshua Rank was named high-yield fixed-income portfolio manager at Principal Global Investors.
The position is new, said Adam Lackey, Principal spokesman.
Mr. Rank will join the high-yield team, led by portfolio managers Mark Denkinger and Darrin Smith, which has $7 billion under management.
Mr. Rank was vice president, senior portfolio manager-high yield at Aviva Investors North America. Rob Ranges, senior managing director and head of Americas business development at Aviva, said the firm would not comment.