Manulife has appointed Steve Finch as the new president and CEO of Manulife Asia, effective 9 May. He steps into the role previously held by Phil Witherington, who has been promoted to president and CEO of Manulife Corporation, also effective the same day.

Currently serving as Manulife’s chief actuary, Finch has been a key figure in the company’s executive leadership team since 2016.

With a career spanning 32 years at Manulife, Finch has played a pivotal role in strengthening the company’s financial position, guiding it through major transactions that reinforced the prudence of its reserves, and overseeing the transition to IFRS 17 and IFRS 9 accounting standards.

His leadership experience extends across both functional and commercial aspects of the business.

Before his current role, Finch was the chief financial officer of John Hancock, Manulife’s US business. He also previously led its US Life Insurance division, steering it to market leadership in life insurance sales.

Throughout his tenure, he has held various roles in reinsurance, product development, and marketing.

An alumnus of Queen’s University with a Bachelor of Science in Statistics, Finch is a fellow of both the Canadian Institute of Actuaries and the Society of Actuaries.

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Driving growth in a key market

Manulife’s top brass is confident that Finch’s extensive experience and leadership capabilities will accelerate the company’s growth trajectory in Asia.

Roy Gori, president and CEO of Manulife, highlighted Finch’s contributions to the company’s transformation and financial performance.

“We have bold ambitions for Asia, and his deep appreciation of our business at a commercial and functional level, strong knowledge of our products and distribution channels across Asia, and passion for leading teams will help accelerate our growth agenda for this critical part of our business,” Gori said.

Witherington echoed this sentiment, describing Finch as a proven leader who has cultivated one of the industry’s strongest actuarial teams. He expects Finch to bring the same strategic approach to Manulife Asia, driving sustainable growth and supporting the company’s vision of making Asia a core earnings engine.

“He’ll bring that same approach to supporting our team in Asia, helping us drive high-quality, sustainable growth and achieve our ambition to be the number one choice for customers,” Witherington said.

As Finch takes on his new responsibilities, Manulife will announce his successor as chief actuary in due course. He will work closely with the incoming leader to ensure a smooth transition.

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Key leadership appointments at Manulife Asia

Just last month, Manulife Asia unveiled significant changes to its senior leadership team, in a bid to enhance its presence across Asia’s diverse markets, People Matters Global reported.

“These changes showcase the depth and strength of our leadership across Asia and position us to continue delivering high-quality sustainable growth and be the number one choice for customers,” Witherington said.

“We are well on track to achieve our goal of contributing half of Manulife’s core earnings by 2027, and these leaders have consistently executed our strategy. Their leadership in these new roles will help define the next chapter for Manulife Asia.”