Insto sales director departs Principal Global Investors

Principal Global Investors director of institutional sales, Michael Gaffney, is stepping down after nearly four years with the global investment manager.

Gaffney has previously worked in institutional distribution at nabInvest, Challenger and Bank of Ireland Asset Management.

In a statement, the company thanked Gaffney for his contributions and wished him well in his future endeavours.

While Principal Global Investors searches for a replacement, country head Helen de Mestre and director of institutional sales Warwick Boys will lead distribution.

de Mestre was appointed country head in January, after leading relationship management at the firm.

Boys joined the manager earlier this year as a director after leading Fidelity's Australian institutional sales team. He has also worked as a general manager, institutional business at Perpetual.