Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 28-May-2014

Manulife has hired Kai Sotorp as the new President and CEO of Manulife Asset Management and Executive Vice President and Global Head of Wealth and Asset Management.

In this new role, Mr. Sotorp's responsibilities includes for growing and developing the Company's wealth and asset management operations globally. His appointment is effective on or about July 1, 2014. He will also be a member of Manulife's Executive Committee and Management Committee.

He will report to Warren A. Thomson, Senior Executive Vice President and Chairman of Manulife Asset Management. He will be based in Toronto, subject to immigration approvals.

As President and Chief Executive Officer of Manulife Asset Management, Mr. Sotorp will directly manage Manulife Asset Management, the Company's global asset manager, and will partner in product development and distribution with Manulife's wealth businesses providing mutual funds, group pensions and investment-linked insurance globally. He replaces Mr. Thomson, who had held that title on an interim basis.

He has 25 years of international financial services and asset management experience, including extensive experience in Asia and most recently and since September of 2012, functioned with UBS Global Asset Management as Chief Executive Officer, Asia Pacific. He has earned an MBA from Harvard Business School and a Bachelor of Science in Business Administration from Boston University.

Mr. Thomson said, "Kai is a proven business leader with extensive global experience in wealth and asset management. Developing Manulife Asset Management to its fullest is an important strategic priority for Manulife. Today, Manulife Asset Management manages assets totaling $298 billion on behalf of institutional and retail clients. Kai's exemplary track record and international experience make him the ideal candidate to drive this business to its highest potential."

Mr. Sotorp said, "I am privileged to be joining Manulife to contribute to the strong global ambitions of an already very successful asset management business. I am impressed with the caliber of the firm's professionals and its strong culture of excellence and client focus. Combined with strong performance and an integrated business model, Manulife has all the elements required for global distinction."

Go to previous page