Toronto-based Manulife Financial Corp. is rebranding its global retail, retirement, and institutional wealth and asset management businesses under the global banner of Manulife Investment Management, the company announced Tuesday.
“Manulife Investment Management brings the absolute best of Manulife and John Hancock’s wealth- and asset-management offerings to our customers through a strong, unified, structure and global brand,” said Paul Lorentz, president and CEO of global wealth and asset management with Manulife, in a press release announcing the news.
Manulife’s rebranding of more than 30 brands globally under one banner is part of a larger transformation the insurance giant is undertaking to become a more digitally focused, customer-oriented global company, Manulife stated in a press release: “This unified presence will provide customers and intermediaries with a more consistent, seamless entry into its various investment-management businesses.”
The retail business will use the Manulife Investment Management brand globally, except in the U.S., where the company will operate under the John Hancock Investment Management brand. The new branding replaces Manulife Investments in Canada, Manulife Asset Management in Asia and Europe, and John Hancock Investments in the U.S.
The retirement business, as part of Manulife Investment Management, will use the Manulife brand globally, except in the U.S., which will use the John Hancock name.
In its institutional business, the company will replace global legacy brands — including Manulife Asset Management and John Hancock Asset Management — with Manulife Investment Management.
Finally, the firm’s private markets businesses will be renamed Manulife Investment Management, with the exception of Hancock Natural Resource Group, which will retain its name but will become more closely affiliated with the Manulife Investment Management brand.
Manulife also says it is launching a new website today, manulifeinvestmentmgt.com, as part of its marketing of the unified branding.
The Manulife Investment Management brand will allow the insurer to leverage the strength and scale of its global wealth- and asset-management business, and to “organically grow assets through an amplification and awareness of the size and offerings of the firm,” the company said in its press release.
The renaming of the wealth- and asset-management business follows up on a major corporate rebranding of the firm as a whole, announced last November, which included a new Manulife logo. The updated branding gives the firm “a clear, modern and uncluttered look, symbolizing our commitment to simplifying the complex for our customers,” said Roy Gori, president and CEO of Manulife, at the company’s annual general meeting held last week in Toronto.
Oakville, Ont.-based Manulife Securities, the firm’s IIROC and MFDA distribution arm, falls under the new Manulife Investment Management global brand, and would retain its name and branding.
Manulife will develop new brand guidelines for advisors and intermediaries, as applicable, wrote Giovana Chichito, a Manulife spokeswoman, in an email to Investment Executive.
“Our brands — including how we speak about our business, offerings and services — will showcase the depth and breadth of our global scale and capabilities and our local expertise,” Chichito said. “Ultimately, better highlighting how our offerings are connected makes it easier for customers and intermediaries to understand how we can help them.”
Manulife Investment Management had $837 billion in assets under management and administration as of March 31.