Manulife Philippines has announced the appointment of Richard Bates as its new president and chief executive officer.
Bates is a finance veteran with experience in insurance penetration in emerging markets. Before joining Manulife Philippines, Bates was chief executive officer of AIA Cambodia, and before that led a multinational consulting firm’s deal strategy unit in Hong Kong and its financial services line of business across Asia.
Beyond his work in insurance and finance, Bates has also been involved in a charity that supports adults with learning disabilities in Hong Kong.
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In his new role, Bates will be responsible for the overall strategy and development of Manulife’s business in the Philippines. He replaces outgoing chief executive Ryan Charland, who has been assigned to Manulife’s Indonesia unit.
“With its young and dynamic population and its promising economic growth prospects, the Philippines is one of Asia-Pacific’s most exciting markets for life insurance and investments,” said Bates.
