Renee Schaaf, president ofRetirement & Income Solutions at Principal, said theacquisition resulted only after exhaustive due diligence, and thatthe integration process, too, will be methodical. (Photo:Shutterstock)
The Principal Financial Group will take the next 18months to fully onboard the 401(k) retirement plans it's acquiredwith the purchase of Wells Fargo & Co.'sInstitutional Retirement and Trust business, which closed Tuesdayfor $1.2 billion.
Renee Schaaf, president of Retirement & Income Solutions atPrincipal, said the acquisition resulted only after exhaustive duediligence, and that the integration process too will bemethodical.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
