Principal Financial Group today announced ASEAN leadership changes—elevating Uday Jayaram to the role of Head of Southeast Asia, Executive Managing Director, Dato’ Paduka Syed Mashafuddin Syed Badarudin to CEO of the Principal Islamic franchise, and Munirah Khairuddin to Country Head of Principal Malaysia. The company is also announcing the retirement of Juan Eyzaguirre, chief executive officer (CEO)–ASEAN.
Uday Jayaram will assume the role of Head of Southeast Asia, Executive Managing Director. Uday will oversee our entire Southeast Asia operations to drive business growth—while aligning strategy, businesses, and team within the region—to build the capabilities to meet customers’ evolving needs.
Dato’ Paduka Syed is being promoted to CEO of the Principal Islamic franchise. In this new role Dato’ Paduka Syed will act as a key advisor and driver across Southeast Asia and the Middle East on strategic Islamic-related initiatives including client relationship management and strengthening relationships with CIMB, industry regulators, and partnerships within the Islamic sphere. He will be responsible for the Islamic business segment across the region—covering both retail and institutional—while working closely with the country CEOs.
Munirah Khairuddin is being promoted to Country Head of Principal Malaysia, in addition to her current role as CEO. In this new enlarged role, Munirah will be responsible for an integrated approach to drive both the conventional and Islamic businesses in Malaysia across all businesses and client segments, wholistically.
“I am excited to elevate three strong and experienced leaders in our ASEAN businesses and advance Principal’s mission of helping people to achieve financial security,” said Thomas Cheong, president of Principal Asia. “These leaders continue to maintain focus on our key priorities and grow and strengthen our Asia operations.”
Juan Eyzaguirre will transition his CEO duties on April 1, 2022, after 12 years with Principal serving in several global leadership roles. He held leadership roles with Principal and its joint venture partners in Argentina, Chile and Brazil before taking Regional ASEAN CEO position. He will continue to serve on the Principal Asset Management (Malaysia) Board and remain as an advisor to the joint venture until June 30, 2022. “Eyzaguirre has been central to growing Principal in emerging markets,” said Cheong. “He is passionate about advancing our capabilities in the region— with particular focus on digital strategies and the customer experience. We’re grateful for his leadership and will count on his continued counsel on the Southeast Asia board
