KUALA LUMPUR, Jan 24 (Bernama) — President of Principal North Asia, Thomas Cheong has been promoted to be the president of Principal Asia, effective March 2.
According to a statement, he will also assume the leadership for South Asia in addition to his current role.
President and chief executive officer, Principal International, Luis Valdés said Cheong’s extensive experience in asset management, pension and life insurance businesses made him ideal to lead and reinforce Principal’s long-term commitment to its Asia markets.
Meanwhile, president of Principal South Asia and India, Pedro Borda is being promoted to senior vice president and chief operating officer of Principal International.
In his new role, Borda will play an integral role in partnering with the company’s global leadership teams to develop and implement business development and digital transformation strategies.
“Asia represents the fastest-growing region for Principal International and is essential to our long-term strategy,” said Valdés.
Borda replaces Renee Schaaf, who is assuming the role of president of Principal Retirement and Income Solutions in March.
Principal helps people and companies worldwide to build, protect and advance their financial well-being through retirement, insurance and asset management solutions. More details at principal.com