Paul Bognanno, president and chief executive of Principal Residential Mortgage, Des Moines, Iowa, has been promoted to senior vice president of its parent company, The Principal Financial Group, also based in Des Moines.J. Barry Griswell, president of Principal Financial, pointed to the growing significance of the mortgage banking unit when he announced Mr. Bognanno's promotion. Mr. Bognanno will continue to run Principal Residential Mortgage, which will have a servicing portfolio of nearly $40 billion with the addition of the portfolio of ReliaStar Mortgage, Des Moines.
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