John Hancock Announces 2024 MLK Scholars Program, Invests Another $1 Million in Summer Jobs, Financial Education for Boston Youth

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John Hancock, a unit of Manulife, announced its 2024 MLK Scholars Program, investing $1 million to provide summer jobs, financial education, and professional development for Boston youth. In its 17th year, the program has invested over $17 million and created opportunities for 6,000+ underrepresented students. In partnership with the City of Boston, the program will sponsor the employment of hundreds of teens at John Hancock’s offices and 25 local non-profits. Collaborating with the Boston Private Industry Council, John Hancock will host networking events for MLK Scholars and summer interns from other financial firms, featuring financial literacy and budgeting activities.

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Joins Boston's Private Industry Council Working Group Alongside Financial Services Firms to Build Diverse Talent Pipeline

BOSTON, July 9, 2024 /PRNewswire/ - Today, John Hancock, a unit of Toronto-based Manulife, announced the start of its annual MLK Scholars Program, which provides summer jobs, financial education, and professional development opportunities to Boston youth. Now in its 17^th year, John Hancock has invested over $17 million to fund the program and has created career opportunities for more than 6,000 underrepresented students.

This summer, in partnership with the City of Boston, John Hancock is sponsoring the employment of hundreds of Boston teens at its offices and 25 local non-profits across the city. The MLK Scholars Program leverages youth employment to build capacity within the non-profit community for summer programming and to create opportunities for long-term employment within the city's public and private sectors. The program benefits the organizations that employ MLK Scholars by engaging Boston's diverse student population in potential career paths in their industries.

"At John Hancock, we fundamentally believe in the role we can play as a large employer in Boston to develop a diverse talent pipeline that can help level the playing field for those who do not have equal access to the type of work experiences that are key to building long-term skills, self-confidence and financial empowerment," said Brooks Tingle, president and CEO of John Hancock. "It's why, for 17 years, we have invested in this program that means so much to not just us, but to so many Bostonians. We're proud to work alongside the city's summer jobs program to create inclusive economic opportunities and foster the local talent that will drive the future of not just our industry, but our great city."

"Providing equitable access to the best opportunities is an important goal we have as a City across all different career paths and age ranges," said Mayor Michelle Wu. "I am grateful to John Hancock and our partners for connecting our young people with these professional experiences and networking opportunities and helping emphasize the importance of youth employment and financial education."

For the second consecutive year, John Hancock is collaborating with the Boston Private Industry Council (Boston PIC) to host two in-person networking events during July and August. The events, which John Hancock will host at its Boston headquarters, will be open to this year's MLK Scholars as well as summer interns from companies participating in the Boston PIC's working group of financial services companies across Boston. These firms, which include the Federal Reserve Bank of Boston, Liberty Mutual, State Street, Fidelity, and Santander, among others, are collaborating to develop a pipeline of high school students interested and prepared for careers in business and finance. The events will feature financial literacy activities and networking sessions that will allow students the chance to connect with peers from the participating financial service firms and nonprofit organizations, in addition to honing their budgeting skills.

A key component of the MLK Scholars Program is offering students access to the John Hancock Well-Being Education Center, a one-of-a-kind digital curation of financial and mental wellness resources for young adults created with EVERFI, a financial literacy platform. The center features digital learning modules focused on personal finance topics ranging from financing higher education and savings to identity protection and taxes. EVERFI will run the networking events for students throughout the summer.

John Hancock's MLK Scholars Program supports Manulife's Impact Agenda, which seeks to drive inclusive economic opportunities to create a more even playing field for all. For more information about the MLK Scholars program, visit https://www.johnhancock.com/about-us/community-investment/mlk-nonprofit.html.

About John Hancock and Manulife 

John Hancock is a unit of Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities. John Hancock also supports US investors by bringing leading investment capabilities and retirement planning and administration expertise to individuals and institutions. Additional information about John Hancock may be found at johnhancock.com.

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SOURCE John Hancock

FAQ

What is John Hancock's 2024 MLK Scholars Program?

The 2024 MLK Scholars Program by John Hancock invests $1 million in summer jobs, financial education, and professional development for Boston youth.

How much has John Hancock invested in the MLK Scholars Program?

John Hancock has invested over $17 million in the MLK Scholars Program over 17 years.

What are the benefits of the MLK Scholars Program for Boston youth?

The program provides summer jobs, financial education, professional development opportunities, and networking events for Boston youth.

Who collaborates with John Hancock in the 2024 MLK Scholars Program?

John Hancock collaborates with the City of Boston and the Boston Private Industry Council for the 2024 MLK Scholars Program.

What activities are included in John Hancock's MLK Scholars Program?

The program includes summer jobs, financial literacy activities, networking events, and access to the John Hancock Well-Being Education Center.

What is the impact of the MLK Scholars Program on the stock symbol MFC?

The press release does not indicate any direct short-term impact on Manulife's stock (MFC) related to the MLK Scholars Program.