The Principal Financial Group(R), the nation's 401(k) leader(1) and total retirement solutions innovator, announces that Delaware Charter Guarantee & Trust Company will operate under the name Principal Trust Company(SM) starting August 28, 2006. Delaware Charter was previously operating under the trade name Trustar(R) Retirement Services.
Located in Wilmington, Principal Trust Company is one of the oldest non-depositary trust companies in Delaware and has been a member of the Principal Financial Group since 1986. Over the past 30 years, the company's services have expanded beyond its roots in the traditional Individual Retirement Account market to nearly all tax-advantaged savings accounts.
"The top-tier service our customers have come to know will not change in any way," says Art Bacci, president and CEO of Principal Trust Company. "Our business has grown and evolved over the past 30 years and we feel the Principal Trust Company name better encompasses the trust services we provide our clients including those serviced through member companies of the Principal Financial Group. This name change will also allow us to leverage the brand strength of The Principal(R)."
About Principal Trust Company
Principal Trust Company is among the nation's premier providers of comprehensive trust and administrative solutions for employee benefit plans and individual tax-advantaged accounts offered through our brokerage and financial institution relationships. Principal Trust Company is among the largest non-deposit trust companies in the country, with combined assets of nearly $50 billion, serving more than 280,000 trust and custodial accounts and supporting over 1,200 client firms. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company, a member company of the Principal Financial Group. For more information, visit www.principaltrust.com.
About the Principal Financial Group
The Principal Financial Group(R) (The Principal (R))(2) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $206.0 billion in assets under management(3) and serves some 16.3 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
(1) The May 2005 "Bundled 401(k) Buyer's Guide" published by Treasury & Risk Management lists The Principal as the 401(k) leader based on the total number of plans administered.
(2) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
(3) As of June 30, 2006