(Reuters) – Canadian insurer Manulife Financial on Monday named Steve Finch as the CEO and president of its Asia unit, effective from May 9.
Finch, who is currently the company’s chief actuary, will succeed Phil Witherington, who has been appointed as Manulife’s CEO and president, also effective from May 9, the company said in a statement.
A veteran of Manulife with a 32-year tenure, Finch has held several leadership roles, including chief financial officer of John Hancock, Manulife’s U.S. business.
“Steve has helped deliver our transformation and drive strong financial performance, reshaping our portfolio towards higher return and lower risk and validating the prudence of our reserves,” said CEO and President Roy Gori, who is scheduled to retire in May.
In February, Manulife posted higher fourth-quarter profit, buoyed by strong growth in Asia, where it is ramping up to capture the financial needs of a growing, under-insured middle class.
(Reporting by Angela Christy in Bengaluru; Editing by Varun H K)
