Manulife Names Steve Finch Asia President and CEO: A Game-Changer for the Region!

Ladies and gentlemen, buckle up! Manulife has just made a monumental move that's going to shake up the insurance and financial services industry in Asia. They've named Steve Finch as the new President and CEO of their Asia division, and let me tell you, this is a BIG DEAL!

First things first, who is Steve Finch? This guy is a financial powerhouse with a proven track record of driving growth and navigating complexity. He's been with Manulife for over 30 years, holding key roles in finance and actuarial functions. As the former Chief Financial Officer of Manulife, he played a crucial role in transitioning the organization to new accounting standards and contributing significantly to financial performance. This experience is invaluable in managing the financial aspects of Manulife's operations in Asia.

But that's not all! Finch's deep understanding of Manulife's global business and his principled leadership will help in building on the momentum of Manulife's growth agenda in Asia. As Roy Gori, the outgoing CEO, said, "Phil has helped strengthen our solid financial foundation as we enter the next stage of our journey. We have bold ambitions for Asia and Phil’s deep appreciation of our team, market, and opportunity across the region will help accelerate our growth agenda for this critical part of our business." This highlights Finch's ability to drive change and engage teams, which is essential for achieving Manulife's strategic goals in the region.

Now, let's talk about the specific leadership qualities and experiences that Finch brings to his new role. Firstly, he has a deep understanding of the financial management of the US operations of Manulife, having served as the Executive Vice-President and Chief Financial Officer at John Hancock. In this role, he was responsible for the overall financial management of the US operations, which included overseeing the financial aspects of the U.S. individual life insurance business, including Sales, Distribution, Marketing, Product, Information Technology, New Business and Customer Service Operations and Finance. This experience will be invaluable in managing the financial complexities of Manulife's operations in Asia.

Secondly, Finch has a proven track record of coaching, developing, and recognizing outstanding talent in the Finance and Actuarial functions at Manulife. This leadership quality will be crucial in fostering a high-performing team in Asia, where talent development and retention are key to success. As stated, "He continues to play a key role coaching, developing, and recognizing the outstanding talent in our Finance and Actuarial functions at Manulife."

Thirdly, Finch's educational background, including a B.ScH in Statistics from Queen’s University and his status as a Fellow of the Canadian Institute of Actuaries and a Fellow of the Society of Actuaries, provides him with a strong analytical foundation. This will be beneficial in making data-driven decisions and managing the actuarial and risk functions in Asia.

Lastly, Finch's extensive experience within Manulife, having celebrated 30 years with the company in 2022, demonstrates his deep institutional knowledge and commitment to the organization. This long-term perspective will be valuable in navigating the challenges and opportunities in the Asian market.



Now, let's talk about how Finch's background in actuarial and financial roles will influence his approach to leading Manulife's Asia division. Finch has a strong foundation in actuarial science and financial management, which are crucial for understanding and managing the risks and financial health of an insurance company. His experience as the Chief Financial Officer and Executive Vice-President at John Hancock, where he was responsible for the overall financial management of the US operations of Manulife, demonstrates his ability to handle complex financial matters and drive financial performance. This experience will be invaluable in ensuring that Manulife's Asia division operates efficiently and profitably.

Finch's role as the Executive Vice President and General Manager for John Hancock’s Life insurance business further highlights his capability in managing large-scale operations and driving strategic initiatives. His responsibilities included overseeing all aspects of the U.S. individual life insurance business, including sales, distribution, marketing, product development, information technology, new business, and customer service operations. This comprehensive experience will enable him to lead Manulife's Asia division with a holistic approach, ensuring that all operational aspects are aligned with the company's strategic goals.

Moreover, Finch's tenure as Manulife’s Chief Actuary, where he oversees Actuarial, Risk, and Life Reinsurance functions globally, underscores his expertise in risk management and actuarial practices. This background will be crucial in navigating the regulatory and market complexities in Asia, ensuring that the division's products and services are compliant and competitive. His role in coaching, developing, and recognizing talent within the Finance and Actuarial functions at Manulife further indicates his commitment to building a strong and capable team, which is essential for the success of any leadership role.

In summary, Steve Finch's extensive background in actuarial and financial roles equips him with the necessary skills and experience to lead Manulife's Asia division effectively. His financial acumen, operational expertise, and risk management capabilities will be instrumental in driving the division's growth and ensuring its long-term sustainability.

So, what does this mean for investors? It means that Manulife is positioning itself for sustained future growth in one of the most dynamic and fastest-growing regions in the world. With Finch at the helm, Manulife's Asia division is poised to accelerate its growth agenda and deliver high-quality sustainable growth for the benefit of its customers, colleagues, investors, and the communities it operates in around the world.

Do not miss out on this opportunity to invest in a company that is not only transforming itself but also the industry it operates in. Manulife is ON FIRE, and with Steve Finch leading the charge in Asia, the sky's the limit!