Principal Financial Group and CIMB Group completed new ownership agreements in relation to their previously announced asset management joint ventures, including all the necessary regulatory approvals. With the completion, Principal now has 60 percent ownership of CIMB-Principal Asset Management Group and CIMB-Principal Islamic Asset Management, with Malaysia-based CIMB retaining 40 percent ownership in both entities. The joint ventures will continue to be co-managed by both shareholders. The two companies have partnered in Southeast Asia since 2004 and have successfully expanded their operations across Malaysia, Singapore, Indonesia and Thailand.