Principal Funds has named Drew Lawton, former CEO and senior managing director of New York Life Investment Management, to its board of directors. In addition to NYLife, Lawton has held positions at Aetna Life and Casualty, Fidelity Investments, and Fridson Investment Advisors. "We are pleased to welcome Drew to our board. His extensive knowledge of the investment management business and experience in the mutual fund industry will serve Principal Funds shareholders well," Mike Beer, president and CEO of Principal Funds, said in a release. Read the full statement from Principal.