Dave Ashton to lead Principal Trust Company and Derek Ching to lead Principal Investment & Retirement Services

(Hong Kong)-Principal Financial Group® announced today Dave Ashton has been named CEO of Principal Trust Company (Asia) Limited in Hong Kong. He will be responsible for leading the mandatory pension business (MPF) for Principal in the market. Additionally, Derek Ching has assumed the role of CEO of Principal Investment & Retirement Services Limited, the sales, distribution and product development business for Principal. Ashton and Ching are assuming responsibilities previously held by Doug Fick, head of Principal International Hong Kong, who recently concluded his two-year assignment.

Ashton previously served as vice president and chief information officer for Principal International and was based in the U.S. Ching's prior role was managing director of Principal Asset Management Company (Asia) Limited.

'I am excited for two strong and experienced leaders to join our Hong Kong business and advance Principal's mission of helping people to achieve financial security,' said Thomas Cheong, president of Principal Asia. 'We deeply appreciate Doug's leadership over the past two years, advancing our technology platform to better serve our customers, while reinforcing strong and long-standing relationships with regulators, business partners and the industry.'

Ashton and Ching will be based in Hong Kong, reporting to Cheong. Ashton has 28 years' experience with Principal and has been actively involved with multiple areas of the business. During his career, Ashton has held several leadership roles, including chief information officer for Principal Funds, Principal Bank and most recently Principal.

International where he was responsible for driving digital strategy. Ching joined Principal in 2016 to lead the company's mutual funds sales business in Hong Kong, including expanding its defined contribution investment-only business. Ching also has extensive sales and marketing leadership experience during his 20-year banking career in Hong Kong and China.

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Principal Financial Group Inc. published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 21:32:03 UTC