#Canada #Toronto #Manulife #Steve Finch #Phil Witherington

Steve Finch Takes the Helm at Manulife Asia

In a significant leadership change, Manulife Financial Corporation has appointed Steve Finch as the new President and CEO of Manulife Asia. This comes into effect on May 9th, as he takes over from Phil Witherington, who is transitioning to the role of Manulife's global President and CEO. Bringing over three decades of experience in the insurance and financial services industry, Finch's appointment marks a pivotal moment for Manulife, especially as it aims to enhance its presence in the Asian market.

Prior to this appointment, Finch served as Manulife's Chief Actuary and has been part of the Executive Leadership team since 2016. His vast experience includes serving as Chief Financial Officer of John Hancock, Manulife's U.S. division, where he led initiatives that refined the company's financial strategies. During his tenure, he played a crucial role in Manulife's transformation strategy and contributed to tailoring the company's portfolio towards higher returns and lower risk, particularly in anticipation of transitioning to the IFRS 17 and IFRS 9 accounting standards.

Steve Finch's impressive career at Manulife also includes leadership roles in areas such as reinsurance, product development, and marketing. His strong educational background includes a B.ScH in Statistics from Queen's University. He proudly holds fellowships with both the Canadian Institute of Actuaries and the Society of Actuaries, reinforcing his expertise in actuarial science.

Roy Gori, President and CEO of Manulife, expressed confidence in Finch's ability to lead the Asia segment, stating, “Steve has helped deliver our transformation and drive strong financial performance, reshaping our portfolio. His deep understanding of our operations and passion for leadership will be instrumental as we pursue ambitious growth in Asia.”

Finch's successor as Chief Actuary will be announced shortly, with a focus on ensuring a smooth transition in leadership roles. He aims to leverage his experience and insights to uplift the operational standards across Asia, focusing on delivering high-quality, sustainable growth.

“In my new role, I am committed to supporting our teams in Asia,” Finch remarked, emphasizing his engagement with the market's dynamics and the drive to make Manulife the top choice for customers. He acknowledges that this strategic position can contribute significantly to achieving the goal where Asia becomes a primary source of profit, with aspirations to account for over 50% of Manulife's core earnings.

Founded in 1887, Manulife has established itself as a cornerstone of financial services in Canada, Asia, and Europe while predominantly operating under the John Hancock brand in the United States. The firm is known for its dedicated approach to helping customers make informed financial decisions. Today, with a team of over 37,000 employees and more than 109,000 agents, Manulife serves around 36 million clients, reflecting its solid commitment to customer service and corporate responsibility. In light of the current leadership transition, the company is poised for further growth, focusing on providing robust financial advice and innovative insurance solutions.

With Finch at the forefront of its Asian operations, Manulife aims to leverage his expertise to navigate the complexities of the financial landscape while continually enhancing their service offerings — solidifying their mission to make decisions easier and lives better for customers across the globe.