Manulife merges AM, wealth units in Asia
The insurer's merger of its asset and wealth management divisions in the region is seen as an effort to cut costs and boost efficiency, following similar moves by banks in recent years.
Canada's Manulife has merged its asset and wealth management arms in Asia, and appointed Michael Dommermuth, its president for international asset management, to head the combined business.
The current Asia head of wealth management, Donna Cotter, will take on a newly created role as vice president of strategy and business development at Manulife Japan. She will report directly to Gavin Robinson, general manager for Japan and join the Japan executive committee.
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