Principal Financial Group hired four high-level executives to support the growth strategy of its U.S. retirement business.
Three of the four new hires are new positions, among them Jeff Cimini, the former head of Voya Financial's strategy and financial management. Mr. Cimini will serve as vice president of planning, performance and transformation, and will lead Principal's operational and business planning, according to a company announcement Monday.
Erik Rasmussen, senior vice president of group and voluntary underwriting, has assumed Mr. Cimini's responsibilities at Voya, a Voya spokeswoman said.
The record keeper also hired Monica Oswald to assume a new role as vice president of retirement operations. Ms. Oswald was previously the head of operations at Empower. Officials at Empower could not be reached for information about a replacement.
Principal also nabbed the former chief experience officer at Smart USA, Sean Jordan, to fill a new position as head of small- and midmarket segments. Mr. Jordan will oversee the strategy and customer-care relationships for these two market segments.
Mr. Jordan's position was created after Principal split the small-, mid-, and large-market segments in two.
As a result of the change, Mr. Jordan will collaborate with Joleen Workman, who previously oversaw all three customer segments as vice president of customer care. Ms. Workman now leads the large-market segment.
Smart USA officials could not be reached for information about a replacement.
Lastly, Principal hired Andrew Matos as head of stock plan services to oversee the firm's employee stock ownership plan and equity compensation plan capabilities. Mr. Matos, who was previously with Empower, replaces Amy Keiser, who is now serving as vice president of retirement products and solutions.
All four new hires, as well as Ms. Workman, report to Teresa Hassara, senior vice president of workplace savings and retirement solutions at Principal.
"Each of these new hires reinforces our commitment to working with businesses, advisers and consultants in strategic and thoughtful ways to maximize trust and value," Ms. Hassara said in the announcement.
Principal did not have additional comments beyond what was in the announcement.
