Morley Financial Services in Portland, Oregon, has appointed Ron Heath as its new managing director for sales and marketing, effective 27 December 2010. Morley is an affiliate of Principal Global Investors and member company of the Principal Financial Group.

Heath was formerly with Dwight Asset Management for 10 years, most recently as senior vice president. Prior to that, he was with Morley for seven years in a variety of roles, including portfolio manager.

Morley president Tim Stumpff said Heath has an excellent reputation in the industry and a proven ability to deliver high-quality stable value solutions and outstanding client service.

"As an integral part of our management team, Ron will help us continue to deliver on our mission of providing top-tier stable value solutions," Stumpff said.

"Expanding the Morley team with a professional of Ron’s caliber and coupling that with Morley’s access to a variety of wrap capacity sources, illustrates our firm’s commitment to the business and to our clients."

The Principal Financial Group is a provider of financial products and services that include retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies.