/PRNewswire/ LTSE Group, Inc. today announced the hire of two key executives to join its management team, both of whom joined the company June 5. Bill Harts.
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Principal launches strategic review after settlement with Elliott
The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.
February 23, 2021 2 MINS
Principal Financial Group Inc. said it plans to launch a strategic review and appoint two new independent directors as part of a settlement agreement with activist investor Elliott Investment Management.
The New York-based hedge fund has been pushing the company to explore selling or spinning off its more capital-intensive life insurance business to focus on its more profitable wealth management operations, according to people familiar with the matter, who asked to not be identified because the matter isn’t public.