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Hugh Titcomb joins Principal as new CEO

Principal Investment Management, the private client portfolio management specialist, announced today the appointment of a new CEO, Mr Hugh Titcomb.

Commenting on his new appointment, Hugh Titcomb says: “I am delighted to be joining Principal. It is a very forward thinking company, and personal service is at the core of everything it does. I have been particularly impressed by the calibre of its management. Principal’s operations and ambitions are in keeping with my own work ethics, and I am very much looking forward to building on Principal’s already impressive achievements to help take us to a new level.”

Hugh joins Principal from The Ansbacher Group where he is currently Group Chief Executive. Within this role he has had global responsibility for the strategic development and operational management of banking, investment management, fund administration and fiduciary services across all the Group’s locations.

Hugh started his career with NatWest Bank, and since then worked with a number of major financial organisations, including Deutsche Bank and Bank of Scotland. He was Managing Director of Fleming Offshore Banking and Managing Director of fund administration at Bank of New York.

When Hugh joins Principal on 1st April 2009 he will arrive at a very exciting phase in its development, with an impressive team set up for him to work with. Founded over 20 years ago, Principal specialises in discretionary portfolio management for private individuals, family trusts and smaller corporate clients. Since that time, it has built up a strong team of 90 employees, spread across three offices, based in London, Bath and Sevenoaks.
In March 2008 Principal became a member of the Sanlam Group, a leading South African financial services business. The deal with Sanlam has allowed Principal access to a broader range of investment capabilities and has given Sanlam the opportunity to build and develop its presence in the UK.

Lukas Van Der Walt, CEO of Sanlam UK comments: “The appointment of Hugh Titcomb reflects the consistent progress Principal is making. Hugh brings a wealth of experience and is the ideal person to oversee the interests of our clients and help build on Principal’s growth.