Principal Financial Group has named Deanna Strable as its new president and chief operating officer, the Des Moines-based financial services and insurance company announced Wednesday. Dan Houston will continue to serve as CEO and chairman of the board.

Strable’s nearly 35-year career at Principal has included serving as executive vice president and chief financial officer since 2017 and as president of the company’s workplace benefits and insurance business before that.

“Deanna has been instrumental in driving strategy, financial results, and operations to enable Principal to grow and continue to create value for our customers, shareholders and employees,” Houston said in a prepared statement. “Her appointment as president and COO reflects her extensive experience and proven leadership within the organization, and I am excited to continue our strong partnership.”

In the new role, Strable will have direct responsibility for the three businesses of Principal – Retirement and Income Solutions, Benefits and Protection, and Asset Management.

“I’m more confident than ever in our ability to deliver value and grow sustainably to continue to serve our customers and meet the expectations of our shareholders,” Strable said in a prepared statement.

Joel Pitz, senior vice president and controller, will serve as interim chief financial officer as part of the transition. Pitz has been with Principal for nearly three decades, holding senior executive finance roles across the company, including serving as CFO for the international pension and long-term savings business.