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Principal Asset Management shakes up fixed income team

By Jessica Penny
3 minute read

The firm has welcomed an experienced portfolio manager with the aim of meeting a wider range of personalised investor objectives.

Principal Asset Management has announced the appointment of Michael Goosay as managing director of global fixed income, in addition to portfolio manager on select strategies.

Mr Goosay joins Principal with more than 25 years of investment industry experience, most recently having spent 14 years at Goldman Sachs Asset Management as head of global pensions and multi-sector fixed income portfolio management. 

During his tenure with Goldman Sachs, he also served as a member of its fixed income business development committee and macroeconomic outlook team.


Before this, Mr Goosay held leadership positions at Drake Management, JPMorgan Chase, Prudential Financial, and GE Asset Management.

Principal AM said Mr Goosay will help build upon the firm’s focus on multi-sector fixed income investment strategies and solutions to meet a wide range of personalised investor objectives.

In his new role, he will take on leadership responsibilities across the fixed income platform, which as of 30 June 2023, had assets under management of $135.7 billion and boasted over 110 investment professionals.

These responsibilities include being named as a portfolio manager on Principal’s fixed income flagship short-term income, core, core plus, and US/global multi-sector strategies and associated products.

“The firm will continue to leverage time-tested investment processes and proprietary investment tools. The objective and investment philosophy of any impacted strategies will remain unchanged,” Principal clarified.

Commenting on the firm’s latest appointment, Principal AM global head of investments, Kamal Bhatia, said: “Michael’s experience, leadership, and creativity will further bolster our already strong global fixed income capabilities.

“We look forward to his leadership and overall contribution in helping best serve our clients worldwide.”

Michael Goosay added: “I am proud to join Principal Asset Management as managing director of global fixed income.

“I look forward to building upon the firm’s robust fixed income capabilities to advance client investment objectives by tailoring the right strategies to achieve them.”

Principal Asset Management, the global investment solutions business for Principal Financial Group, managed $525.2 billion in assets as of 30 June 2023.