C$ unless otherwise
stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, May 24, 2022
/CNW/ - Manulife is pleased to announce several changes to its
Executive Leadership Team. These changes demonstrate the depth of
the company's leadership bench and see the company welcoming back a
former colleague.
Following his more than thirty years of service, Michael Doughty, CEO, Canada Segment, has
decided to retire at the end of September. "Mike is a tremendous
leader who embodies our values, pursues excellence every day, and
does it with a deep sense of care for our colleagues, customers,
and communities," said Roy Gori,
President & Chief Executive Officer of Manulife. "As he embarks
upon this next chapter, he does so with our deep gratitude for his
many contributions, and our very best
wishes."
Naveed Irshad will be
appointed CEO, Canada Segment. His appointment is effective
June 1, 2022, to enable a smooth
transition with Mr. Doughty. Mr. Irshad is currently Global Head of
Inforce Management and Head of Manulife's North American Legacy
Business, where he has successfully led initiatives that have
released more than 8 billion dollars
in capital, including the recent U.S. variable annuity reinsurance
transaction. Immediately prior to his current role, he was
President & CEO of Manulife Singapore. Recognized for the
breadth of his experience, Mr. Irshad has held a variety of roles
across general management, product development, finance,
reinsurance, and risk management during his thirty years in the
industry.
Marc Costantini will
return to Manulife as Global Head of Inforce Management,
effective June 13. Mr. Costantini
rejoins Manulife from Munich Re where he is President & CEO for
Corporate Development, Strategy and Digital Solutions for the
company's North America Life & Health business. Prior to
joining Munich Re, he was EVP, Commercial and Government Markets
for Guardian, after having been the company's CFO when he joined in
2014. Previously, Mr. Costantini spent more than twenty years with
Manulife, holding a variety of executive leadership roles in
Corporate Strategy, Corporate Development, Finance, and the
operating businesses.
Damien Green has been
appointed as CEO, Asia
Segment, replacing Anil Wadhwani who has left the
company. Mr. Green is currently CEO of Manulife's Hong Kong business; he joined Manulife in 2018
as the Chief Strategy and Transformation Officer for Asia. Mr.
Green has extensive experience in the insurance industry, having
held leadership roles across Asia with MetLife, AIA and
AustralianSuper. Pankaj
Banerjee, Chief Distribution Officer for Manulife Asia,
will also serve as interim CEO, Manulife Hong Kong, pending
completion of the appointment process for Mr. Green's
successor.
"Today's announcement underscores the depth of our leadership
bench with the appointments of Naveed and Damien, as well as the
attractiveness of our franchise with an accomplished individual
like Marc returning," commented Gori. "These outstanding leaders
bring strong track records for delivering results and have a shared
passion for building winning teams. I look forward to working with
them as we continue to drive growth across our franchise and
advance our digital, customer leadership efforts."
Mssrs. Irshad, Constantini, and Green will report directly to
Manulife President & CEO, Roy
Gori.
About Manulife
Manulife Financial Corporation is a leading international
financial services provider that helps people make their decisions
easier and lives better. With our global headquarters in
Toronto, Canada, we provide
financial advice and insurance, operating as Manulife across
Canada, Asia, and Europe, and primarily as John Hancock in the
United States. Through Manulife Investment Management, the
global brand for our global wealth and asset management segment, we
serve individuals, institutions, and retirement plan members
worldwide. At the end of 2021, we had more than 38,000 employees,
over 119,000 agents, and thousands of distribution partners,
serving over 33 million customers. Our principal operations are in
Asia and Canada, and the
United States, where we have served customers for more than
160 years. We trade as 'MFC' on the Toronto, New
York, and the Philippine stock exchanges and under '945' in
Hong Kong. In the previous 12
months we made CAD$32.7 billion in
payments to our customers.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulife.com.
SOURCE Manulife Financial Corporation