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BOSTON, June 2, 2021 /PRNewswire/ - John Hancock Retirement, a company of Manulife Investment Management, announced today that Sue Reibel has been appointed chief executive officer for its U.S. retirement plan and recordkeeping business.
Ms. Reibel was previously Manulife Investment Management's global head of retirement and replaces Patrick Murphy. Mr. Murphy, who had served as CEO of John Hancock Retirement since 2018, is on long-term medical leave and will be stepping away from the position to focus fully on his health and recovery.
"We are grateful to both Sue and Pat for their leadership up to and through this transition," said Andrew G. Arnott, head of wealth and asset management, U.S. & Europe, Manulife Investment Management. "Pat has been instrumental in building this business for us and he's left us well-positioned for growth as a proven resource for plan sponsors and financial professionals helping participants prepare for a secure retirement. Sue's expertise and focus on the U.S. market will help to accelerate our momentum by utilizing her vast global and retirement experience."
Ms. Reibel joined Manulife in 1994 and brings her experience in the retirement industry, as well as her knowledge of the U.S retirement business, to the role. Prior to leading the global retirement business, she held numerous senior management roles at Manulife, including leading the Canadian Group Retirement and Group Benefits business, and establishing and leading the Canadian direct-to-consumer business.
"I look forward to leading the John Hancock Retirement team and to continuing John Hancock's success," said Sue Reibel, CEO, John Hancock Retirement. "The retirement market remains core to John Hancock's growth and with more than 50,000 plans and 3 million participants we have a strong base from which to expand."
Ms. Reibel is a member of the global retirement leadership team and reports to Mr. Arnott. Currently based in Toronto, she will be relocating to the Boston area as soon as it is possible.
About John Hancock Retirement
John Hancock Retirement is the U.S. retirement business of Manulife Investment Management. For nearly 50 years, we've helped people plan and invest for retirement; today, we're one of the largest full-service providers in the United States.¹ We take a hands-on consultative approach based on the idea that no two plans - and no two plan participants - are exactly alike. We partner with plan sponsors, advisors, and third-party administrators to ensure that every plan is personal to the participant and delivers results.
As of March 31, 2021, John Hancock serviced over 52,000 retirement plans with over 3 million participants and over $212 billion in AUMA.2
1 "2020 Defined Contribution Recordkeeper Survey," PLANSPONSOR, 2020.
2 As of March 31, 2021, John Hancock Life Insurance Company (USA) supported 47,844 plans, 1,602,710 participants, and $ 105,200,270,861.69 in AUMA. John Hancock Life Insurance Company of New York supported 2,537 plans, 79,432 participants, and $ 6,206,383,227.41
in AUMA. John Hancock Retirement Plan Services, LLC supported 2,189 plans, 1,416,982 participants, and $100,763,366,447.34 in AUMA. Participant Counts reflect all active participants with a balance. Approximate unaudited figures for John Hancock, provided on a U.S. statutory basis.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of March 31, 2021, Manulife Investment Management had CAD $764.1 billion (US $607.6 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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SOURCE John Hancock Retirement