The primarily US-based company said it plans to serve institutional investors, pension plan sponsors and sovereign wealth fund clients in the Middle East, with a primary focus on the Gulf Cooperation Council. Nasrallah will be responsible for overseeing the firm’s business development and marketing efforts in this region.
Abdulla Mohammed Al Awar, chief executive of the Dubai International Financial Centre, in which Principal has opened the office, said: “The UAE and the United States have long enjoyed strong commercial ties and many American companies have used Dubai as a base to expand into the region.
“Principal Global Investors joins a growing community of asset managers and other financial services providers in DIFC which has succeeded in establishing a secure and efficient platform to reach into and out of the emerging markets of the region.”
