[SINGAPORE] Canadian insurer Manulife named Steve Finch, its current chief actuary, as its new Asia chief executive and president with effect from May 9.
Finch will succeed Phil Witherington, who will assume the role of global CEO and president at Manulife from May 9. Witherington will take over from the incumbent CEO and president Roy Gori, who is retiring.
A company veteran with a 32-year tenure at the insurer, Finch previously served as chief financial officer (CFO) of its US business, John Hancock. Prior to that, he served as general manager of the company’s US life insurance business. He also served in reinsurance, product development and marketing roles at Manulife.
On Tuesday (Mar 18), the company said Finch has “contributed significantly to Manulife’s transformation and financial performance, including through several historic transactions that validated the prudence of the company’s reserves”.
He also supported its transition to the IFRS 17 and IFRS 9 accounting standards and has been a member of Manulife’s executive leadership team since 2016, the insurer said.
A successor for the chief actuary role will be announced “in due course” and Finch will work with the new leader to ensure a “seamless transition”, the company said.
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Recent leadership shake-up
Finch’s appointment comes amid a shake-up at the insurer, which lately announced a slew of leadership switch-ups.
Among other senior leadership changes in Manulife’s Asia business, its current Japan CEO Benoit Meslet has been named to helm its Singapore division effective Jun 1.
He will replace Khoo Kah Siang, pending regulatory approval, who will lead the insurer’s emerging markets business unit that oversees Cambodia, Indonesia, Malaysia, Myanmar and the Philippines.
Manulife’s Indonesia CEO Ryan Charland will replace Meslet at the Japan office with effect from May 1. Lauren Sulistiawati succeeded Charland to lead Manulife’s Indonesia unit.
The group’s global controller and chief accounting officer Adrienne O’Neill will replace Michael Thomssen – who is leaving Manulife – as Asia CFO.
