Manulife announces restructuring plans

Manulife’s Canadian Division is undergoing some restructuring.

The new structure, designed to strengthen the firm’s focus on providing comprehensive financial solutions, will be supported by three pillars: retail; institutional; and banking, distribution and private client services.

Retail The new retail organization, which combines individual life products, critical illness insurance, disability insurance, mutual funds, segregated funds and annuities, will be led by Paul Lorentz as executive vice president and general manager.

Institutional The institutional division, which will comprise group benefits, group retirement solutions and specialized insurance solutions through its Affinity Markets unit, will be headed by Rick Brunet, executive vice president of the group.

Banking and distribution and private client services This division will encompass banking, distribution and private client services, and will be led by Roy Firth, who will continue to lead such high-priority areas as Manulife Securities, Manulife Bank, Capital Markets and High Net Worth.

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