This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Manulife Appoints Kai Sotorp As President And CEO Of Manulife Asset Management And EVP And Global Head, Wealth And Asset Management

Stock quotes in this article: MFC

TORONTO, May 20, 2014 /PRNewswire/ -- Manulife today announced that Kai Sotorp has been appointed President and CEO of Manulife Asset Management and Executive Vice President and Global Head of Wealth and Asset Management. In this new role at the Company, Mr. Sotorp, who brings 25 years of international financial services and asset management experience, including extensive experience in Asia, will be responsible for growing and developing the Company's wealth and asset management operations globally. His appointment is effective on or about July 1, 2014.

Mr. Sotorp will 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.

"Kai is a proven business leader with extensive global experience in wealth and asset management," said Mr. Thomson. "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."

"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," said Mr. Sotorp.

As President and Chief Executive Officer of Manulife Asset Management, Mr. Sotorp will directly oversee 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 succeeds Mr. Thomson, who had held that title on an interim basis.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,811.45 -231.45 -1.36%
S&P 500 1,945.18 -27.11 -1.37%
NASDAQ 4,415.8420 -77.5480 -1.73%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs