John Hancock Retirement Announces Updates to Sales and Service Model and Senior Leadership Team
February 1, 2024 - John Hancock Retirement, a business of Manulife Investment Management, announced today it is combining its sales and service organizations to support its market segments and better serve its key partners and customers. This furthers the firm’s commitment to participant success and retirement readiness.
With this announcement, Gary Tankersley, currently head of sales and distribution, will take on the new role of head of the Core segment and Michelle Morey, currently head of service model transformation, will take on the new role of head of the Mid/Large and Taft-Hartley segment. The new roles are effective on February 15.
Additionally, Scott Francolini, vice president and head of strategic relationship management, will be leaving the firm effective March 31, 2024. Mr. Francolini’s career in wealth and asset management spans 30 years - including the last nine with John Hancock Retirement - overseeing strategic relationship management for all segments.
“We thank Scott for his many years of strong leadership and dedication to our plan sponsors, third party administrators, financial professionals and other partners,” said Wayne Park, CEO of John Hancock Retirement. “Scott spent nearly a decade successfully leading our efforts related to customer satisfaction, retention, and growth, working closely with Michelle for many of those years on these relationships. I am pleased we have such a strong succession plan in place and that she will be able to step into her new role seamlessly.”
“Additionally, the new model will help us better leverage the strengths we have in each market, and I am excited that Gary will be leading our Core segment business which has enormous potential for growth given SECURE 2.0 provisions and other opportunities in the market,” said Mr. Park.
Mr. Tankersley and Ms. Morey each have 29 and 24 years respectively of experience in the retirement industry and will use it to expand the company’s business while enhancing service to our current clients.
“There are opportunities for growth in each of our segments and I look forward to working in our new model with the knowledge and expertise of Gary and Michelle in place,” said Mr. Park. “I am confident that their leadership will mark another era of our ability to help retirement savers achieve their investment goals and objectives.”
About John Hancock Retirement
John Hancock Retirement is the U.S. retirement business of Manulife Investment Management. For more than 50 years, we’ve helped people plan and invest for retirement; today, we’re one of the largest full-service providers in the United States.1 We take a hands-on consultative approach based on the idea that no two plans—and no two plan participants—are exactly alike. We partner with plan sponsors, advisors, and third-party administrators to ensure that every plan is personal to the participant and delivers proven results.1
As of Sept 30, 2023, John Hancock serviced over 56,000 retirement plans with over 3.2 million participants* and over $194 billion in AUMA.
About Manulife Investment Management
Manulife Investment Management is the brand for the global wealth and asset management segment of Manulife Financial Corporation. Our mission is to make decisions easier and lives better by empowering investors for a better tomorrow. Serving more than 17 million individuals, institutions, and retirement plan members, we believe our global reach, complementary businesses, and the strength of our parent company position us to help investors capitalize on today's emerging global trends. We provide our clients access to public and private investment solutions across equities, fixed income, multi-asset, alternative, and sustainability-linked strategies, such as natural capital, to help them make more informed financial decisions and achieve their investment objectives. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
* Participant Counts reflect all active participants with a balance.
1"PLANSPONSOR 2023 Defined Contribution Recordkeeping Survey© 2023 Asset International, Inc.,” PLANSPONSOR, 2023.
As of Sept 30, 2023, John Hancock Life Insurance Company (USA) supported 51,953 plans,1,606,956 participants, and $ 94,595,558,810.36 in AUMA. John Hancock Life Insurance Company of New York supported 2,695 plans, 73,964 participants, and $ 5,200,335,601.41in AUMA. John Hancock Retirement Plan Services LLC supported 2,058 plans, 1,531,803 participants, and $94,528,690,107.96 in AUMA. Participant Counts reflect all active participants with a balance. Approximate unaudited figures for John Hancock, provided on a U.S. statutory basis.
John Hancock Retirement Plan Services LLC provides administrative and/or recordkeeping services to sponsors or administrators of retirement plans through an open-architecture platform. John Hancock Trust Company LLC provides trust and custodial services to such plans. Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in NY), and John Hancock Life Insurance Company of New York, Valhalla, NY. Product features and availability may differ by state. All entities do business under certain instances using the John Hancock brand name. Each entity makes available a platform of investment alternatives to sponsors or administrators of retirement plans without regard to the individualized needs of any plan. Unless otherwise specifically stated in writing, each entity does not, and is not undertaking to, provide impartial investment advice or give advice in a fiduciary capacity. Securities are offered through John Hancock Distributors LLC, member FINRA, SIPC.
NOT FDIC INSURED. MAY LOSE VALUE. NOT BANK GUARANTEED.
© 2024 John Hancock. All rights reserved.
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