HONG KONG – Manulife Hong Kong and Macau has elevated Albert Mak as its new Chief Agency Officer, effective 1 November 2024. This move is part of Manulife’s strategy of strengthening the company’s leadership and distribution channels across the region.

Mak will now lead the charge for Manulife’s agency force of over 10,000 in Hong Kong and Macau, with his focus on sales, productivity, and recruitment. Reporting directly to Rishi Srivastava, Chief Agency Officer for Asia, and Ivan Chan, Chief Distribution Officer for Hong Kong and Macau, he will play a central role in Manulife’s strategy to expand its agency force’s reach and capabilities.

“We are thrilled to have Albert on board in this pivotal role,” said Patrick Graham, CEO of Manulife Hong Kong and Macau.

“His wealth of experience and impressive industry credentials will undoubtedly be a game-changer for us. This appointment underscores our commitment to optimising our distribution strategy and nurturing exceptional talent through a robust leadership development pipeline.”

Expertise in sales and team development

Mak joined Manulife in May 2019 as Head of DBS Bancassurance, Assistant Vice President, and quickly expanded his responsibilities. His leadership in business development and training for key bancassurance partners – DBS and China CITIC Bank International – was instrumental in driving significant growth.

Since January 2023, Mak has led the Business Development and Training team for the agency force, where his efforts have contributed to strong sales performance and the launch of initiatives such as the creation of the Private Wealth Planning team, which has proven crucial in capturing high-net-worth clients for the agency channel.

With more than 15 years of experience in the financial services industry, including roles at HSBC Insurance, Standard Chartered Bank, and HSBC, Mak brings expertise in sales strategies and team development. His educational background includes a Bachelor of Science in Statistics from the University of British Columbia, Canada.

Also Read: Patrick Graham named CEO of Manulife Hong Kong

Other leadership changes at Manulife

Earlier this month, Manulife also announced the retirement plans of president and CEO Roy Gori, effective 8 May 2025. He will continue to serve as an advisor through 31 August 2025.

Manulife Asia CEO Phil Witherington will succeed Gori and join the Board of Directors.

Don Lindsay, Manulife’s board chair, lauded Gori for his “inspiring, values-driven” leadership and for “transforming the company” and “delivering outstanding results”. Meanwhile, he praised Witherington for having “consistently demonstrated the ability to navigate complexity, deliver on commitments and drive change and highly engaged teams through his authentic leadership”.

Also Read: Manulife announces key leadership changes to drive growth in Asia

Milestones for Manulife Hong Kong

Manulife has been in business in Hong Kong for over 125 years. Last month, it marked 25 years since going public in the financial hub, celebrating the milestone with a grand closing gong ceremony at Hong Kong Exchanges Clearing.

“This milestone event not only celebrates a quarter-century of public trading in Hong Kong but also adds to Manulife’s legacy of over 125 years of growth alongside the Hong Kong community,” the company said.

Manulife made history in 1999 as the first international life insurance company listed on the HKEX, and has since evolved into a powerhouse in the global financial services sector. During the celebration of the IPO anniversary, the company noted how it has set the benchmark for the entire industry.

Manulife maintains a customer base of over 2.5 million across Hong Kong and Macau, and has more than HK$342 billion in assets under management.

The company has forged multiple bancassurance partnerships and was among the pioneers in relocating offices to Kowloon East, the city’s emerging commercial hub.

“While we had already been operating in Hong Kong for more than 100 years by the time of our listing, what we have achieved since then makes it an important event in our history worth celebrating,” Witherington said at the time.

“Twenty-five years on, our market cap has grown from around HK$47 billion to more than HK$400 billion on HKEX, delivering a total return of over 1,000% for our shareholders. Just as importantly, we are proud to count 1 in 3 people in Hong Kong as our customers, making us an integral part of the city’s fabric. We feel privileged that the Hong Kong SAR has been a dynamic base for our growth across Asia and remains a cornerstone of our regional business.”