John Hancock Retirement announced Monday it's hiring industry veteran Wayne Park as its CEO.
The company, a division of Manulife Investment management, said Park will lead its U.S. retirement plan and record-keeping unit and oversee all aspects of the business. including sales, relationship management, product, strategy, marketing, operations and technology.
Park replaces Sue Reibel, who retired from the position at the end of 2022 after a nearly 30-year career at Manulife. Park will be based in Boston, reporting to Aimee DeCamillo, head of global retirement at Manulife Investment Management.
Manulife Investment Management boasts over $332 billion in retirement assets under management and administration, supporting over 260,000 retirement plans and serving more than 8.7 million individual participants.
Park joins John Hancock Retirement from American Century Investments, where he most recently served as president of American Century Services, responsible for direct-to-consumer and retirement plan businesses as well as an operations group supporting all client markets and channels. Before that, he served as head of individual investors for T. Rowe Price Group, after working for the Vanguard Group as principal in its institutional retirement plan business.
"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 said in a statement.
“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,” she added.
After years of encouraging sacrifice and delayed gratification, advisors have to do the next emotional lift: helping clients let go of a potentially harmful scarcity mindset.
A new JPMorganChase Institute report reveals how deeply stock market wealth now drives everyday American spending, especially for retirees.
A survey of 507 solo agers finds most lack confidence in their plans and that systems, not just individuals, need to change.
A new Schroders survey exposes a widening gap between what Americans expect in retirement and what they're actually on track to receive.
Two wealthtech providers are handing advisors the controls, letting firms design their own workflows and AI agents in plain language.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
