The group has announced structural and leadership changes
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Manulife has announced some structural and leadership changes including an increased global focus on wealth and asset management.
All of the group’s wealth and asset management businesses will be brought together under a primary reporting segment, Global Wealth and Asset Management.
The aim is that the new unit will be able to take advantage of its global scale and talent. It will be headed by Paul Lorentz from October 1, 2017. He will succeed Kai Sotorp who is to retire.
"We are confident that the changes we are making today will enable us to achieve our significant potential and deliver on our purpose of helping customers achieve their dreams and aspirations," said Roy Gori, Manulife's President and incoming Chief Executive Officer. "Importantly, they showcase the bench strength of Manulife's senior leadership team, and position us strongly as we accelerate our transformation."
Other changes include a dedicated senior leadership role with direct responsibility for Manulife's closed legacy businesses in North America. Naveed Irshad has been appointed Head, North America Legacy Business, effective January 1, 2018.
There are also some leadership changes to business units in Asia, the US and in Canada where Michael Doughty has been appointed President and CEO of Manulife Canada, also effective October 1, 2017.
Additionally, Steve Roder, the group’s CFO has decided to retire for personal reasons and will be succeeded by Philip Witherington, currently the interim President and CEO of Manulife Asia, at the end of the year.
"I welcome these leaders to their new roles, and look forward to seeing the impact they will have on our teams and our business," Mr. Gori said. "I would also like to thank Steve Roder and Kai Sotorp for their many contributions to the Company, and wish them all the best in retirement."
All of the group’s wealth and asset management businesses will be brought together under a primary reporting segment, Global Wealth and Asset Management.
The aim is that the new unit will be able to take advantage of its global scale and talent. It will be headed by Paul Lorentz from October 1, 2017. He will succeed Kai Sotorp who is to retire.
"We are confident that the changes we are making today will enable us to achieve our significant potential and deliver on our purpose of helping customers achieve their dreams and aspirations," said Roy Gori, Manulife's President and incoming Chief Executive Officer. "Importantly, they showcase the bench strength of Manulife's senior leadership team, and position us strongly as we accelerate our transformation."
Other changes include a dedicated senior leadership role with direct responsibility for Manulife's closed legacy businesses in North America. Naveed Irshad has been appointed Head, North America Legacy Business, effective January 1, 2018.
There are also some leadership changes to business units in Asia, the US and in Canada where Michael Doughty has been appointed President and CEO of Manulife Canada, also effective October 1, 2017.
Additionally, Steve Roder, the group’s CFO has decided to retire for personal reasons and will be succeeded by Philip Witherington, currently the interim President and CEO of Manulife Asia, at the end of the year.
"I welcome these leaders to their new roles, and look forward to seeing the impact they will have on our teams and our business," Mr. Gori said. "I would also like to thank Steve Roder and Kai Sotorp for their many contributions to the Company, and wish them all the best in retirement."
