Principal Funds has named Drew Lawton, former CEO and senior managing director of New York Life Investment Management, to its board of directors.

Lawton’s financial services career spanned more than 30 years and included roles with Aetna Life and Casualty, Fidelity Investments, Fridson Investment Advisors and, most recently, New York Life. His experience in these organizations included leading institutional, retirement and retail market businesses within the U.S. and globally.

“We are pleased to welcome Drew to our board. His extensive knowledge of the investment management business and experience in the mutual fund industry will serve Principal Funds’ shareholders well,” said Mike Beer, president and CEO of Principal Funds.

Lawton earned a bachelor’s degree in administrative science from Yale University and an MBA from the University of North Texas. He serves on the board of directors of the Make-A-Wish Foundation of America.

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives.