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News release


The Principal Financial Group Selects Jones Lang LaSalle as Real Estate Services Facilities Management Provider

New corporate office outsourcing contract supports firm’s national, global growth objectives

CHICAGO, Aug. 24, 2011 — Jones Lang LaSalle announced today that it has been awarded a 4.3-million-square-foot real estate services contract for facilities management for the Principal Financial Group® (NYSE: PFG). The contract includes the 2.4-million-square-foot corporate campus of The Principal® in Des Moines, Iowa in addition to its global field offices. The Principal has more than 150 owned and leased offices, occupied by employees of the company, throughout the United States and in more than 15 countries throughout Asia, Australia, Europe and Latin America.

As a leading global asset manager and retirement leader, The Principal retained Jones Lang LaSalle to support its long-term global facilities growth strategy. Together with Jones Lang LaSalle’s Blake Layda and with key support from Scott Tibbo, David Passaglia and Bill Thummel, Richard McBlaine led the team efforts for the highly competitive bid. Passaglia and Richard Tan will serve as the customer relationship managers on the account.

“We designed this strategic, integrated real estate outsourcing program for The Principal’s corporate office and global field offices to fully leverage its strong financial position to invest in strategic growth opportunities both in the U.S and abroad,” said Richard McBlaine, International Director, Jones Lang LaSalle. “By increasing the productivity and utilization of its facilities and leveraging Jones Lang LaSalle’s leading-edge tools and proven service delivery platform, The Principal can enable its national network of financial professionals to continue to provide innovative solutions for its consumer, corporate and institutional client base.” 
 “As we continue to expand internationally, our new partnership with Jones Lang LaSalle makes good business sense as it relates to our facilities management needs,” said Ralph Eucher, Senior Vice President, Human Resources and Corporate Services at The Principal.  “The firm’s global presence combined with its technical capabilities will help us efficiently manage all of the owned and leased properties occupied by our employees.”

Jones Lang LaSalle’s Corporate Solutions business helps corporations improve the cost, efficiency and performance of their national, regional or global real estate facilities by creating outsourcing partnerships to manage and execute a range of occupier services. This service delivery capability helps create new client relationships, particularly as companies turn to the outsourcing of their real estate activity as a way to manage expenses and enhance productivity and profitability.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $45.3 billion of assets under management. For further information, please visit our website,

Jones Lang LaSalle’s Integrated Facilities Management (IFM) platform brings together multiple service lines to support a comprehensive solution for clients. As the leading global provider of facility and operations management services to corporations, institutions and investor clients around the world, Jones Lang LaSalle was recently selected as one of the 2011 Global Outsourcing 100 by The International Association of Outsourcing Professionals (IAOP).
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)  is a retirement and global asset management leader. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, investment services and insurance through its diverse family of financial services companies.  A member of the FORTUNE 500®, the Principal Financial Group has $335.8 billion in assets under management  and serves some 16.5 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