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Manulife Appoints New President, CEO

To focus on development of business strategy, product design

Manulife Philippines, a wholly-owned domestic subsidiary of Manulife Financial, has appointed Indren Naidoo as new president and chief executive officer effective December 1, 2009. He succeeds Carl Steven Gustini, who will assume the country manager position in Manulife Vietnam.

In his new role, Mr Naidoo will be responsible for the development of business strategy, product design and regular interaction with and support of sales force channels, including agency, bancassurance and alternative channels.

Mr Naidoo has worked in the Philippines for over 8 years as chief financial officer for two multinational life insurance companies. Prior to his time in the Philippines, he worked in several countries in Asia in a similar capacity. Mr Naidoo has served over 11 years as a corporate banker with ANZ Banking Group in Australia.

Manulife Financial is a Canadian-based financial services group that provides financial protection products and wealth management services through its network of employees, agents and distribution partners.