MFC Global Investment Management Names Don Rich as Head of Tactical Asset Allocation
January 19 2010 - 10:56AM
PR Newswire (US)
TORONTO, Jan. 19 /PRNewswire-FirstCall/ -- MFC Global Investment
Management today announced the appointment of Don Rich as Vice
President and Head of Tactical Asset Allocation. Dr. Rich, who will
be based in Toronto, will report to Mark Schmeer, Chief Investment
Officer, Equities, Asset Allocation and Research, MFC Global
Investment Management. His appointment is effective immediately. He
will be responsible for determining the appropriate percentage of
assets held in various categories for many of MFC Global's tactical
asset allocation portfolios worldwide. He will also provide overall
guidance in the construction of multi-asset class strategies. In
addition, he will conduct investment research supporting other
portfolio management teams. "Don Rich has exceptionally strong
experience both as an academic and a practitioner in the finance
industry. As we continue to execute our growth strategy and further
strengthen our global asset allocation capabilities, we are very
pleased to have him join the MFC Global team," Mr. Schmeer said.
Dr. Rich worked previously for Harvard Management Company, which
manages Harvard University's endowment. He was a portfolio manager
and Director of Research for Foreign Exchange. He also was a member
of the Portfolio Committee which established the secular and
cyclical outlook for the endowment's assets. He assisted with
tactical asset allocation, implementing derivative overlays to
develop alpha and to hedge tail risk. He also worked at Wellington
Management Company, where he also served as Foreign Exchange Team
Portfolio Manager & Director of Foreign Exchange Research. He
designed and implemented quantitative tools to monitor the linkage
between macroeconomics and capital markets. Prior to that he worked
at State Street Associates and was co-architect in the development
of the continuous value at risk model that is now a commonly used
measure of risk. He also developed models focused on macro
activity, capital flows, and savings, which have proven to be
successful tools to forecast currency moves, macro economic
variables, and investment strategy. Dr. Rich holds a PhD in Finance
from Virginia Tech and has worked as a risk management consultant,
and as an Associate Professor at Northeastern University in Boston.
About MFC Global Investment Management® MFC Global Investment
Management® is the asset management division of Manulife Financial.
MFC Global Investment Management's diversified group of companies
provides comprehensive asset management solutions for institutional
investors, investment funds and individuals in key markets around
the world. This investment expertise extends across a full range of
asset classes including equity, fixed income and alternative
investments such as oil and gas, real estate, timber, farmland, as
well as asset allocation strategies. MFC Global Investment
Management has investment offices in the United States, Canada, the
United Kingdom, Japan, Hong Kong, and throughout Asia. As at
December 31, 2009, assets under management for institutional
clients were approximately Cdn$110 billion. MFC Global Investment
Management®, Manulife and the block design are trademarks of The
Manufacturers Life Insurance Company and are used by it and its
affiliates including Manulife Financial Corporation. About Manulife
Financial Manulife Financial is a leading Canadian-based financial
services group serving millions of customers in 22 countries and
territories worldwide. Operating as Manulife Financial in Canada
and Asia, and primarily through John Hancock in the United States,
the Company offers clients a diverse range of financial protection
products and wealth management services through its extensive
network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were
Cdn$436.5 billion (US$407.1 billion) as at September 30, 2009.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and
PSE, and under '945' on the SEHK. Manulife Financial can be found
on the Internet at http://www.manulife.com/. DATASOURCE: MFC Global
Investment Management CONTACT: Brian Carmichael for MFC Global
Investment Management, +1-617-663-4748, Web Site:
http://www.manulife.com/
Copyright