Scott Boyd has been hired as head of sales for workplace and retirement solutions for Principal Financial Group's retirement and income solutions division.
The position is new, spokeswoman Hillary Carlson, said Tuesday in an emailed statement.
"With the addition of the Wells Fargo sales team, we felt it was important to have a single leader focused on the collective sales reps on the ground vs. the divisional leadership approach we had prior to the acquisition," said Jerry Patterson, senior vice president of retirement and income solutions, in the statement.
Mr. Boyd, who will join Principal Aug. 12, reports to Mr. Patterson. Mr. Boyd "assumes responsibility for leading the U.S. sales force to serve all customer segments and product solutions," a Principal news release said Monday.
Mr. Boyd joins Principal from Prudential Financial where he was in charge of "full-service teams ... focusing on offerings in the corporate, governmental, tax-exempt and Taft Hartley markets, the news release said. He was responsible for "managing the business development and intermediary relations team, maintaining and expanding relationships with key distribution channels nationally," it said.
Mr. Boyd had been head of full service sales at Prudential Financial, spokeswoman Anjelica Sena confirmed Tuesday in an email. "There is no speculation of replacing his role at this time," she added.