Iowa State University

Iowa State University
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News Service

News Service

Annette Hacker, manager,
(515) 294-3720

Office: (515) 294-4777

07-22-04

Contacts:

Mark Power, College of Business, (515) 294-5651

Kim Schroeder, College of Business, (515) 294-5800

Annette Hacker, News Service, (515) 294-3720

Iowa State's College of business appoints The Principal Financial Group faculty fellow

AMES, Iowa --An Iowa State University College of Business professor of finance has been appointed the Principal Financial Group Faculty Fellow. The fellowship is for a five-year term that began July 1.

Mark Power's appointment to the Principal Financial Group Faculty Fellowship recognizes his research record, service to the college and university, and commitment to teaching excellence in finance.

The fellowship was established in 1998 by Iowa State alumnus David Drury, retired chairman, president and chief executive officer of The Principal, based in Des Moines.

"We are grateful to David Drury for establishing the Principal Financial Group Fellowship," said Labh Hira, dean of the College of Business. "Benefactors like Drury provide our college with much needed financial support for our faculty and illustrate their belief in our programs."

Power came to Iowa State in 1983. He researches in the areas of risk management, insurance and corporate finance. He has studied the impact of regulatory oversight on retirement plans and insurance products, state mandatory health benefits regulation, the effects of managed care on employer-sponsored medical expense plans, insurance company ratings/operating performance, and outside director pensions and corporate governance.

At Iowa State, Power has been awarded the Dean's Advisory Council Award for Overall Excellence and the Outstanding Article of the Year Award. Student Advisory Council awards include Outstanding Advisor of the Year and Outstanding Teacher of the Year. In September 2003, the Iowa State University Alumni Association presented Power with the Citation for Faculty Service, for inspiring service to students, alumni, the university and the profession. He also has been awarded The Journal of Risk and Insurance Outstanding Feature Article Award for his article on private retirement plan growth, and in December 2003, he received the Southern Finance Association's "Outstanding Paper in Corporate Finance" for his co-authored paper on outside director pensions and corporate governance.

He is a member of the American Risk and Insurance Association, the Western Risk and Insurance Association, and the Southern Risk and Insurance Association.

Power received his bachelor's of science in finance in 1974 from Iowa State; a master's of business administration in 1977 and a doctorate in philosophy in 1981, both from The University of Iowa, Iowa City.

Power is the second Principal fellow. The first was Cynthia Campbell, associate professor of finance.

About the Principal Financial Group

The Principal Financial GroupB. (The Principal ®)¹ 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. A member of the Fortune 500, the Principal Financial Group has $149.8 billion in assets under management² and serves some 14.7 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.

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¹"The Principal Financial Group_" and "The Principal_" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

² As of March 31, 2004

Mark Power

Mark Power
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Quick look

Professor Mark Power is the new Principal Financial Group Faculty Fellow. The fellowship was established in 1998 by ISU alumnus David Drury.

Quote

"We are grateful to David Drury for establishing the Principal Financial Group Fellowship. Benefactors like Drury provide our college with much needed financial support for our faculty and illustrate their belief in our programs."

Labh Hira, College of Business dean