Principal Funds has added three new regional directors to the firm’s investment only team: Marcel Dawson, Gary Nakamura and Pamela Suing, focusing on growth within the registered investment advisor distribution channel.
Dawson, based in Charlotte, N.C., and covers the South Central region. Most recently, Dawson was a regional vice president with Pioneer Investments/UniCredit SpA, where he directed sales to institutional RIA clients in 15 states.
Nakamura covers the West and is based in Golden, Colo. He most recently worked for MFS Investment Management as a director of sales within the firm’s RIA division.
And Suing is based in Chicago and covers the North/Northeast. Suing previously worked for Nuveen Investments, where she was an RIA consultant.
With the three new additions, Principal Fund’s investment only team now consists of eight regional directors and five internal wholesalers.
“The addition of Marcel, Gary and Pamela boosts our expertise in the RIA channel while allowing us to apply a more dedicated focus in all of our channels, including defined contribution investment only and bank/trust,” stated Tim Hill, Principal Funds national sales director.
According to the firm, investment only sales for Principal Funds reached $2.3 billion at the end of 2011, compared to $400 million in 2007, the year Principal Funds first entered the investment only space.