Asset manager Principal Global Investors (Europe) has appointed Steven Brown as head of Wholesale Distribution in the UK, a newly created role. He was previously Overseas Business Development Director for M&G Investments. Based in the London office, Mr Brown will be responsible for building fund sales to private banks, fund of funds, wrap providers, bank platforms and other intermediaries. He will also assist with creating a pan-European wholesale strategy. Chief executive officer of Principal Global Investors (Europe) Nick Lyster said: “Over the last four years we have focused on the development of the Principal Global Investors Funds, which can now be marketed and distributed in many European countries.” Principal Global Investors is a diversified asset manager with expertise in equities, fixed income and real estate investments, as well as specialised overlay and advisory services. It manages $213.6 billion in assets primarily for retirement plans and other institutional clients. It is a member of the Principal Financial Group, headquartered in Des Moines, Iowa.