Principal Global Investors has hired Åsa Norrie from Aberdeen Standard Investments (ASI) to be its European regional chief executive officer and head of distribution.
Principal manages $545 billion of assets across real estate, global equities and fixed income.
“Norrie joins Principal from Aberdeen Standard Investments (ASI) where she spent 15 years, most recently as head of global strategic alliances,” said Principal.
“She was responsible for clients investing in strategies across real estate, private equity and absolute return, as well as dedicated ESG funds in equity and fixed income asset classes.
“While at ASI she also served as Global Head of Early Careers for distribution and marketing.
“Prior to this, she was Head of European Business Development at Standard Life Investments.
“Norrie has also previously held various senior positions at both Britannic Asset Management and Edinburgh Fund Managers including as a portfolio manager.
“With 25 years of industry experience, Norrie brings a comprehensive view of investors’ needs and demands to Principal.
“Norrie’s appointment follows the decision of Timothy Stumpff, CEO of Principal Global Investors Europe, and Nick Lyster, International head of Wealth Advisory Services, to retire from the firm early this year.
“Her appointment as CEO is subject to regulatory approval.”
Kirk West, Executive Director, International Business and Clients, Principal Global Investors:“Principal has developed its asset management business successfully in the UK and Europe and remains focused on growing its client base in the region.
“We continue to expand our investment capabilities and the broader continent remains a center for top wealth management and pension clients—Åsa’s strong knowledge of all investor types and channels will allow us to deepen our roots while strategically expanding our relationships.
“We are proud to welcome Åsa to our leadership team with her unique experience and diverse perspective.”
Norrie said: “I am delighted to be joining Principal Global Investors as its new Chief Executive and Regional Head of Distribution in Europe.
“Principal has a long track record of delivering strong investment outperformance, combined with a culture that puts the needs of its clients at the heart of its business.
“I am looking forward to building on the success that the business has delivered in the region to date and to continuing to partner with our clients to help them achieve their long-term financial goals.”