James (Jim) Boyle has been appointed president and CEO of Toronto-based Foresters Financial, the company announced on Monday.
Boyle, who formerly served as president and CEO of Boston-based insurer John Hancock Financial, a subsidiary of Toronto-based Manulife Financial Corp., will commence his new role on Jan. 8, 2018.
Foresters announced the departure of its former president and CEO, Anthony Garcia, in July 2017. At that time, Robert Lamoureux, chairman of the board of directors, said the company required “a different style of leadership” as it embarked on transformational change.
Since July, Michael Stramaglia and Sonia Baxendale have each been serving as co-interim president and CEO.
Boyle has more than 30 years of financial services experience, including almost 20 years with Manulife Financial and John Hancock in a variety of operating roles. Since retiring from John Hancock in 2012, he has been involved in private and venture capital investing and, most recently, was CEO of an early-stage healthcare technology startup called Zillion Group Inc.
Boyle joined Foresters’ board of directors earlier this year.
“Jim Boyle is an exceptional financial services leader, who was selected by the board following a rigorous internal and external search. Jim has proven himself to be an exemplary leader, clear communicator, and a very successful developer of talent,” said Lamoureux in a statement. “Foresters board of directors is confident that he is well suited for this important role.”
Stramaglia and Baxendale will support Boyle in the early phases of his transition. They will return to their roles as members of the board of directors on Feb. 1, 2018. Stramaglia is chairman of the risk and investment committee and Baxendale is chairwoman of the human capital and governance committee. Both also serve on the audit and compliance committee.
Boyle and his wife, Dotty, who currently reside in Hingham, Mass., will relocate to Toronto.
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