Manulife has made a number of important changes to drive better alignment with its strategic priorities, accelerate the company's growth, optimise legacy blocks of business in North America and leverage its talent across geographies.
For example, the firm is creating stronger global alignment and direct accountability for all of its wealth and asset management businesses, bringing them together into a primary reporting segment – global wealth and asset management.
Paul Lorentz has been appointed head, global wealth and asset management, as of October 1. He is replacing Kai Sotorp, who has decided to retire.
At the same time, Manulife has created a dedicated senior leadership role with direct responsibility for its closed legacy businesses in North America. Naveed Irshad has been appointed head, North America legacy business, effective January 1, 2018. He is currently chief executive officer of Manulife Singapore.
Further new appointments globally include Anil Wadhwani as president and CEO of Manulife Asia, effective November 13. He has spent his 25-year career with Citi, primarily in growth roles across consumer banking in Asia, with a focus on customer experience and digitisation.
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