The Principal Hires ESOP Consultant

August 14, 2014 ( – The Principal Financial Group has hired Mike Parrett as vice president of consulting.

Parrett, who takes on the VP role effective August 18, will provide advanced consulting to employee stock ownership plans (ESOPs), including financial analysis and transaction structuring. He will be based in the company’s Indianapolis office.

Jerry Ripperger, vice president of consulting at The Principal, believes that Parrett’s experience in finance and ESOPs will be “instrumental in strengthening our consulting practice to better serve our clients.”

Parrett has nearly 30 years of experience in finance, treasury and operations management. Before joining The Principal Financial Group, he served as senior vice president and chief financial officer of Herff Jones, Inc., where was responsible for overseeing the company’s merger and acquisition activity, as well as finance, treasury, insurance and risk-management functions.

Parrett earned bachelor’s degrees in accounting and business administration from the University of Indianapolis, and is also a certified public accountant and certified treasury professional. He previously represented Herff Jones on the Employee-Owned S Corporation of America board and is a current member of the Association for Financial Professionals.

— Matthew Miselis