Manulife Investments has appointed Paul Lorentz its new president. Manulife Investments is the fund and distribution arm of Manulife Financial, the parent company of U.S. fund giant John Hancock.
In the newly created position, Lorentz, who's been with the Toronto, Canada-based company since 1993, will also hold the title of senior vice president, investment products and be responsible for mutual funds, annuities and guaranteed products. He was most recently the head of Manulife's Distribution organization.
WATERLOO, ON, March 11 /CNW/ - Paul Lorentz has been named Senior Vice President, Investment Products and President, Manulife Investments to lead Manulife's future growth strategy for investment products in Canada.
As President of Manulife Investments, Mr. Lorentz will lead the organization that specifically focuses on investment fund products, including segregated funds, mutual funds, annuities and guaranteed products.
"This is a new senior executive position in our Canadian business that reflects our view that our Wealth Management business holds tremendous potential," said Roy Firth, Executive Vice President, Individual Wealth Management, Manulife Financial. "We are strategically focusing on our wealth operations to ensure we are well-positioned to leverage these opportunities.
"Already we have expanded the breadth of our operations through acquisitions, invested in developing innovative products and strengthened our distribution channels for this market."
Manulife recently acquired AIC retail funds and Berkshire-TWC Financial Group and is recognized as an industry leader for its innovative and award-winning products.
Mr. Firth added: "Paul brings excellent insight into the opportunities and challenges facing advisors and is uniquely and ideally suited to this new position. As well, he brings an extensive understanding of our business through senior product positions in Individual Insurance, Group Savings & Retirement Solutions and, most recently, as Senior Vice President, Distribution."
Mr. Lorentz, who has worked in various Manulife businesses since joining the company in 1993, most recently led Manulife's Distribution organization that delivers the expertise, service and information to support Manulife's many distribution partners and more than 40,000 advisors across the country.
For more information about Manulife Investments, please visit www.manulifeinvestments.ca
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts.
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 customers 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 $440 billion (US$ 420 billion) as at December 31, 2009.