January 4, 1999
The Principal Financial Group announced that Norman R. Sorensen has been appointed president of Principal International, a member company. Sorensen succeeds Jan Jobe, who will become president of Princor Financial Services, which manages the Principal Mutual Funds. Sorensen, 53, has extensive experience in entering new global markets and launching financial services products. He joins Principal Financial from AIG, where he most recently served as senior executive for Brazil and Argentina, based in Sao Paulo. Principal Financial Group also named John Effrein as vice president of investor relations. He has over 14 years of diversified financial services industry experience, most recently as an independent financial consultant.