HONG KONG, Aug. 6, 2013 /PRNewswire/ -- Manulife Financial (TSX, NYSE and PSE: MFC, HKEx: 945) has announced the appointment of Michael Huddart to the position of Executive Vice President and General Manager, Greater China. In this new role, Mr. Huddart will oversee Manulife's operations in Hong Kong, Mainland China and Taiwan.
Mr. Huddart will take on the leadership role as Chairman of Manulife-Sinochem Life Insurance Co. Ltd. and Vice Chairman of Manulife TEDA Fund Management Co., Ltd. in Mainland China as well as responsibility for Manulife's asset management business in Taiwan. He will also continue to be Chief Executive Officer of Manulife (International) Limited and Chief Executive Officer of Manulife Asset Management (Hong Kong) Limited in Hong Kong.
"The Greater China region offers great opportunities for Manulife to serve our existing and potential customers with professional financial protection and wealth accumulation solutions," said Robert A. Cook, President and Chief Executive Officer, Manulife Asia. "As one of our key leaders in Manulife Asia, Michael was the obvious choice for this newly-created role. For the last nine years, he has successfully led our life insurance, pension and wealth management businesses in Hong Kong and Macau, and during this period we have seen strong growth in sales, distribution and earnings."
Michael Huddart has more than 30 years of practical experience in the life insurance and pension consulting fields in Asia Pacific. Since taking up his role heading up Manulife's operations in Hong Kong nine years ago, the company grew significantly from year-end 2003 to year-end 2012, with assets under management more than tripling, insurance sales nearly doubling and the number of agents increasing from about 3,000 to more than 5,500.
Mr. Huddart said: "I am very pleased to take up this important role as Manulife continues to expand in the Greater China region. While the financial industries in Hong Kong, Mainland China and Taiwan are in different development stages, people in these territories are facing similar protection, retirement and wealth management needs. I am confident that the diverse and personalized financial solutions provided by Manulife will help fulfill these needs."
Mr. Huddart holds a Bachelor of Science (honours) degree in actuarial science from City University in London, is a Fellow of the Institute of Actuaries of Australia and an Associate of the Society of Actuaries (ASA).
He is very active in the Hong Kong insurance industry as a member of the Insurance Advisory Committee, chaired by the Secretary for Financial Services and the Treasury. He has been the Chairman of the Insurance Claims Complaints Bureau since 2008, and continues to be an active participant in a number of Hong Kong Federation of Insurers' Task Forces. Mr. Huddart is also Chairman of the Insurance Management Committee of the Hong Kong Management Association and a member of the Professional Ethics Review Board of the Institute of Financial Planners of Hong Kong.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$555 billion (HK$4,244 billion) as at March 31, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
Media Contact:
Jacqueline Kam / Crystal Tse
Manulife (International) Limited
Tel: +852-2202-1284 / +852-2510-3130
Fax: +852-2234-6875
Email: Jacqueline_tm_kam@manulife.com / Crystal_ym_tse@manulife.com
