Manulife names CFO as new Asia chief

Move is in-line with the insurer's plans to expand from HK

Manulife names CFO as new Asia chief

Life & Health

By Kenneth Araullo

Manulife has announced the relocation of chief financial officer Phil Witherington from its Toronto headquarters to Hong Kong, where he will assume his new role as president and CEO of Manulife Asia.

This development echoes earlier plans from the insurer seeking to redomicile in Hong Kong after the city state eased its estate duty for established insurers.

According to a report from the SCMP, Witherington will succeed Damien Green effective July 1. Green will then enter his new role as chair for Manulife Financial Asia.

Witherington has over two decades of experience in the industry and has already spent four years in Hong Kong before this new role. During that time, he worked as chief financial officer and interim chief executive officer for the region. According to his LinkedIn, he has also worked at HSBC, AIA, KPMG China, and KPMG UK.

In a previous interview with the Post, Witherington touted Hong Kong’s positives as the insurer continues to lay the foundations for its redomiciling.

“Throughout the 13 years that I spent in Hong Kong, it was very clear to me that the city has a strategic advantage,” Witherington said. “Hong Kong is the gateway to China. It has truly world-class infrastructure, and a talent pool supported not only by a world-class education system, but also international and domestic companies that nurture that talent.”

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