Principal is an American asset management company with 15,000 employees that help manage investments for clients around the world. It was known as Principal Financial Group until yesterday, March 9, when the name was shortened and a new look was introduced. The new visual identity was developed by New York-based Lippincott.
The company's history stretches back to 1879 with the establishment of the Bankers Life Association. It was known as Bankers Life until 1985 when the name Principal Financial Group was adopted, along with the now replaced logo.
The people at Principal see themselves as caring about people by managing their investments and their future. This jarred with the old logo which was a bit old-fashioned and institutional. Lippincott developed a softer and more humanistic logo with a stylised double-P to better convey how the company wanted to portray itself. In applications, the new look uses bright and varied colours that further emphasise this friendliness.
From a press release:
The new look amplifies what the company has always stood for: helping people make financial progress so they can live their best lives. The logo’s form is iconic and unique, taking inspiration from a human embrace while outlining a clear path towards progress. The softer forms of the double “P” signal reduced complexity for its customers. Together with the typography, it conveys a more humanistic and optimistic personality. A vibrant blue will serve as the company’s brand color.
Michael D’Esopo, Senior Partner, Lippincott, said: “The new identity provides greater unity and consistency as Principal presents itself as one global brand. It is just the first step in a brand transformation that will focus on improving the customer experience. We are proud to partner with Principal on this journey and look forward to what’s to come.”
Beth Brady, CMO, Principal, adds: “Brand is first and foremost an expression of who you are as a company. It’s what you stand for. The work we did with Lippincott helped us to bring our brand to life in a fresh, contemporary way.”