Retirement industry veteran Wayne Park has been appointed the head of the U.S. retirement plan and recordkeeping business at John Hancock Retirement with accountability for all aspects of the business including sales, relationship management, product, strategy, marketing, operations, and technology.
John Hancock Retirement, a company of Manulife Investment Management, announced today that Park will join the firm as CEO, U.S. Retirement, and will be based in Boston. He replaces Sue Reibel who retired from the position and her nearly 30-year career at Manulife at the end of 2022. Park will report to Aimee DeCamillo, head of global retirement, Manulife Investment Management.
“I look forward to leading the John Hancock Retirement business and to continuing the legacy of its commitment to working with financial professionals, TPAs and plan sponsors to achieve the best retirement outcomes for participants,” Park said. “I am excited to join the global retirement leadership team and help the U.S. organization contribute to Manulife Investment Management’s growing global retirement business.”
Park most recently served as president of American Century Services, Inc. for American Century Investments, Inc., responsible for direct-to-consumer and retirement plan businesses as well as an operations group supporting all client markets and channels. Prior to that, he had been head of individual investors for T. Rowe Price Group, leading a business line that helped individual investors reach investment, college and retirement goals. Previously, Park had worked for the Vanguard Group as principal in its institutional retirement plan business.
“We are happy to have found a leader of Wayne’s caliber who brings incredible hands-on experience to the CEO role across multiple dimensions,” DeCamillo said. “As we looked to the future of how to help provide secure retirements for our participants, we saw a combination of both leadership and intuition in participant needs and operational experience that will help to ensure success in the direction, evolution, and growth of our U.S. Retirement business.”
Manulife Investment Management is a global retirement leader and operates across a diverse footprint of markets with a strong presence in Asia, Canada, and in the U.S. With more than $332 billion in retirement assets under management and administration, the company supports over 260,000 retirement plans and serves over 8.7 million individual participants who rely on its retirement plan administration and investment expertise to help them prepare and save for their retirement.
Earlier this month, John Hancock, a unit of Manulife, announced the retirement of CEO Marianne Harrison, with Brooks Tingle succeeding as president and CEO of John Hancock, effective April 1.
Tingle joins Manulife’s executive leadership team and reports to Roy Gori, president and CEO of Manulife.
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.