John Hancock Funds, the Boston-based mutual fund business unit of John Hancock Financial has appointed Andrew Arnott as its Chief Executive Officer, succeeding Keith Hartstein.
John Hancock Financial operates as Manulife Financial Corp. (TSE:MFC) in Canada and in most of Asia.
Most recently, Arnott served as Executive Vice President of John Hancock Investment Management Services (IMS), which oversees all third party and internal asset manager relationships across the John Hancock and Manulife investment platforms in the U.S. and Asia. Prior to the IMS role, Arnott was the Chief Operating Officer of John Hancock Funds.
In May, Hartstein disclosed his plans to retire from John Hancock in September after 22 years with the company, the last seven as President of John Hancock Funds.
As at March 31, 2012, John Hancock Funds manages more than $74.5 billion in open-end funds, closed-end funds, private accounts, among others. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion).
On the Toronto Stock Exchange, MFC stock rose 1.69 percent to trade at $10/83 on Friday. Over the past year, shares have been trading in the range of $10.18 to $16.31.