Money Management

PGI promotes relationship management veteran as leader of Australia business

Helen de Mestre, a Sydney-based managing director, relationship management with Principal Global Investors, has been promoted to country head of the firm's Australia business.

Ms. de Mestre replaces Grant Forster, who led PGI's business in Australia for the past 12 years.

Mr. Forster, in an emailed message, said he was "delighted to hand over the reins of Principal in Australia at the end of 2018" to Ms. de Mestre and eventually plans to seek opportunities to help "evolve and improve the position of retirees" in Australia.

Ms. de Mestre will retain her previous responsibilities in her new role, a spokeswoman for Principal Global Investors said.

PGI manages A$4.5 billion ($3.2 billion) on behalf of Australia-based investors.