Daniel Houston

Daniel Houston leads Principal Financial Group as Chairman and CEO, overseeing a Des Moines, Iowa-based financial services company that has carved a dominant position in retirement and investment services for small and medium-sized businesses. Principal manages over $700 billion in assets across retirement plans (401k, pension, ESOP), asset management (Principal Global Investors and its subsidiary boutiques), and insurance and benefits. Principal's competitive advantage lies in its deep specialization in the small and medium business segment — companies with 10-1,000 employees that are too small for the largest recordkeepers (like Fidelity and Empower) to prioritize but need sophisticated retirement plan solutions. Principal provides these businesses with bundled services: retirement plan recordkeeping, investment management, group insurance, and employee benefits administration. The company also operates a global asset management business through Principal Global Investors and affiliated boutiques, managing real estate, equities, fixed income, and multi-asset strategies for institutional and retail clients. Key stock drivers include retirement plan participant growth and contribution rates, asset management flows and fee revenue, net interest margin on insurance products, investment performance, competition in the retirement recordkeeping market, the overall health of the U.S. employment market, and regulatory changes affecting retirement savings.