Manulife has appointed Kai Sotorp as president and CEO of Manulife Asset Management and executive vice president and global head of wealth and asset management.
In this newly created position, Sotorp will work with the existing management and looks after the global expansion plans of Manulife’s wealth and asset management operations.
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Sotorp, who has over 25 years of experience in international financial services and asset management industry, will be based in Toronto and report to Warren Thomson, senior executive vice president and chairman of Manulife Asset Management.
His appointment is effective on or about 1 July 2014 and will also become a member of Manulife’s executive committee and management committee.
Commenting on the appointment, Thomson said: "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."
Most recently and since September of 2012, Sotorp had been with UBS Global Asset Management as CEO for Asia Pacific.
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By GlobalDataHe was also UBS Group managing director and member of UBS Global Asset Management’s executive committee. Based in Hong Kong, he oversaw US$120 billion in assets under management and 495 employees.
