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Deals and People March 27, 2023
John Hancock Names Park to Head US Retirement Business
The new CEO arrives from American Century Investments to replace Sue Reibel, who retired at the end of 2022.
Reported by Noah Zuss
Manulife Investment Management announced on Monday that Wayne Park is taking the reins as CEO of John Hancock Retirement U.S.
Wayne Park
In the new role, Park heads the U.S. retirement plan and recordkeeping business at John Hancock Retirement, where his responsibilities include sales, relationship management, product strategy, marketing operations and technology, according to the release.
Park reports to Aimee DeCamillo, head of global retirement at Manulife Investment Management, according to the firm.
“We are happy to have found a leader of Wayne’s caliber who brings incredible hands-on experience to the CEO role across multiple dimensions,” DeCamillo stated in the release. “As we looked to the future of how to help provide secure retirements for our participants, we saw a combination of both leadership and intuition in participant needs and operational experience that will help to ensure success in the direction, evolution, and growth of our U.S. Retirement business.”
Park was hired because of his decades of experience working alongside intermediaries, plan sponsors and participants, according to the release. Park replaces Sue Reibel, who retired on December 31, 2022, after a nearly 30-year career at Manulife.
Park had been a senior vice president of personal finance solutions at American Century Investments, responsible for direct-to-consumer and retirement plan businesses and the operations group. Prior to working American Century, Park was head of individual investors at T. Rowe Price, and he previously held the role of principal, institutional retirement plan services, at Vanguard Group.
John Hancock Retirement is the U.S. retirement business of Manulife Investment Management, headquartered in Boston.
Manulife Investment Management manages more than $332 billion in retirement assets under management and administration for more than 260,000 retirement plans and 8.7 million participants, according to the press release.
John Hancock services more than 55,000 retirement plans with more than 3.2 million participants and more than $187 billion in assets under management and administration, as of December 31, 2022, the release stated.