Canadian insurer and asset manager Manulife has appointed Steve Finch as its president and CEO of Manulife Asia, effective May 9, succeeding Phil Witherington who has been appointed Manulife’s president and CEO, also effective May 9.

Finch currently serves as the company’s chief actuary and has been a member of its executive leadership team since 2016. He has contributed significantly to the company’s transformation and financial performance, including through several historic transactions that validated the prudence of the company’s reserves, and supporting the transition to IFRS 17 and IFRS 9 accounting standards.

A proven leader across both functional and commercial areas of the company’s business, Finch previously served as the chief financial officer of John Hancock, the  company’s US business; and prior to that, he served as the general manager of its US life insurance business, leading the business to be the market leader in life insurance sales.

He has served in additional roles, including in reinsurance, product development and marketing across his 32-year tenure with Manulife.

“Finch is a proven leader who has developed our actuarial talent globally into one of the best teams in the industry,” Witherington says. “He’ll bring that same approach to supporting our team in Asia, helping us drive high-quality, sustainable growth and achieve our ambition to be the number one choice for customers and contribute more than 50% of Manulife’s core earnings – a goal we’re well on track to achieve.”