A new long-term strategic alliance between Manulife Wealth & Asset Management (Manulife WAM) and Legal & General (L&G) is set to broaden the two firm’s international footprints and strengthen access to wealth and retirement solutions worldwide.
The agreement brings together the Canadian and UK firms across multiple areas, including distribution, investment management, and product development and aims to extend their combined reach across key regions such as Canada and the US, Europe, Asia, and Bermuda, responding to rising demand for integrated wealth offerings.
The partnership will draw on Manulife WAM’s established distribution networks and asset management capabilities across North America and Asia, alongside L&G’s global investment expertise and leadership in annuities and reinsurance.
The initiative is expected to span a broad mix of asset classes across both public and private markets. These include alternative credit, fixed income, multi-asset strategies, and real assets such as real estate, infrastructure, and natural capital. Investment vehicles like exchange traded funds are also expected to form part of the collaboration.
Both firms say the move reflects a shared ambition to scale capabilities and deepen their presence in international markets, while improving access to differentiated investment strategies for institutional, retail, and retirement clients.
Manulife WAM oversees more than $1.3 trillion in assets under management and administration, supported by operations across 20 markets, including a strong presence in Asia, while L&G currently manages approximately £1.2 trillion in assets and has been pursuing international expansion through a ‘build, partner or buy’ strategy outlined in 2025.
Paul Lorentz, CEO of Manulife WAM, said there are tremendous opportunities for both organizations: “This strategic partnership will support the expansion of our product platform to bring a more comprehensive and competitive offering to all markets where we currently operate – reinforcing our commitment to be the number one choice for customers around the world.”
The rollout of the partnership will take place over several years, with multiple initiatives expected to be introduced in stages.
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