Manulife steps up hiring in China to tap big pensions opportunity

HONG KONG, March 6 (Reuters) – Canada’s Manulife Financial Corp (MFC.TO) plans at least two more top-tier hires in China this month as it targets the pensions business in the fast-ageing society after taking full control of a joint venture, senior executives said. After becoming in November the first foreign financial firm to receive regulatory approval to wholly own a funds joint venture, Canada’s largest insurer has shaken up the unit’s management by appointing a new chairman and a new general manager. Advertisement · Scroll to continue It is now hiring for two new roles – a deputy general manager for fixed income and a chief operating officer – which it hopes to fill before the end of March. Register for free to Reuters and know the full story Having 100% ownership of a local unit with access to China’s newly launched private pension scheme will help Manulife accelerate its plans to tap the retirement business opportunity, Paul Lorentz, CEO of Manulife Investment Management (Manulife IM), told Reuters in an interview last week. Latest Updates Former top Credit Suisse shareholder sells full stake in bank Analysis: Chinese companies hang onto dollars, hedge to prepare for volatile yuan Swiss National […]

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