Feb. 12 (Bloomberg) — Principal Financial Group Inc. expanded its workforce last year for the first time since 2007 as the life insurer acquired a Chilean pension manager and a provider of hedge funds.
The company had 14,792 employees at the end of 2013, compared with 13,373 a year earlier, according to a regulatory filing. The Des Moines, Iowa-based insurer employed 16,585 people at the end of 2007.
Principal last year acquired AFP Cuprum SA, which manages Chilean retirement funds, and hedge-fund firm Liongate Capital Management LLP. Chief Executive Officer Larry Zimpleman is seeking to boost fees from money-management and reduce reliance on products in which the company has risk tied to bond yields.
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