Principal Financial Group, the US-headquartered global financial services firm, has named new heads for its Hong Kong and Asia businesses.

Arthur Bacci takes the helm in Principal International Hong Kong after serving as president and chief executive of Principal Bank since 2007. Bacci has been with the company since 2002, when he joined as chief financial officer of Principal Trust (Delaware). 

Joining Bacci is Camill Cheung who has been named head of mutual fund sales and marketing at Principal Global Investor (Asia). Cheung brings 13 years of asset management and banking experience to the role. Before joining Principal, she was the head of marketing and product development at Robeco Hong Kong. 

The two appointments follow the announcement that Stanley Yip, CEO for the Hong Kong office is retiring as of the end of June. Principal Financial operates through various asset management, trustee and insurance businesses in Asia, including China, Hong Kong, India, Indonesia, Malaysia, Singapore and Thailand.