BOSTON, Nov. 28, 2012 /PRNewswire/ -- John Hancock Financial, the US division of Manulife Financial Corporation, has appointed Michael Doughty as Executive Vice President and General Manager of John Hancock Insurance, the company announced today. In this expanded role, Mr. Doughty adds responsibility for John Hancock's Long-Term Care (LTC) business to his existing role as head of John Hancock Life Insurance. The appointment takes effect January 1, 2013. Mr. Doughty will continue to report to Craig Bromley, President of John Hancock Financial.
"We congratulate Mike on his new appointment," said Mr. Bromley. "We are pleased to have someone of Mike's leadership and expertise to take on this expanded role."
He added: "Bringing these similar businesses under one leader makes tremendous sense. It will allow the company to take advantage of the many synergies of these businesses, and operate more effectively. Mike's extensive industry experience and global mindset also make him an excellent choice to develop and implement innovative strategies to better serve our customers and grow our leadership position in the important U.S. insurance market."
Mr. Doughty led Individual Insurance for Manulife's Canadian division from 2007 until earlier this year, when he became head of John Hancock's Life Insurance business. As head of John Hancock's LTC business, he succeeds Marianne Harrison, who has been named General Manager of Manulife Financial's Canadian division, based in Toronto.
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, John Hancock celebrates 150 years of serving clients across the United States, while Manulife Financial celebrates its 125th anniversary. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$515 billion (US$523 billion) as at September 30, 2012. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
SOURCE John Hancock Financial