Principal Hires Rank, Hanson to Help Run $7 Billion of Junk Debt

Principal Financial Group Inc. (PFG), the provider of life insurance and retirement products, hired Josh Rank and Matt Hanson to help run a $7 billion portfolio of high-yield assets at the fixed income division.

Rank and Hanson previously worked at the North American investment unit of Aviva Plc, Des Moines, Iowa-based Principal said today in a statement distributed by Business Wire.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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