Manulife Investment Management appoints head of high-net-worth strategy for private markets

Rhea-AI Summary

On April 16, 2021, Manulife Investment Management appointed Alex Catterick as Senior Managing Director for its high-net-worth strategy in Private Markets. This new role focuses on developing products for high-net-worth investors, aiming to broaden the company’s distribution. Manulife manages over $100 billion in assets under management, with significant commitments in private equity and infrastructure. Catterick's expertise, gained from his tenure at HSBC, is expected to enhance product innovation for high-net-worth investors traditionally limited to institutional offerings.

Positive

• Appointment of Alex Catterick is expected to enhance high-net-worth product offerings.
• Manulife manages over $100 billion in assets, indicating strong market position.

Negative

• The new role may indicate a shift in focus which could lead to operational challenges.

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Commits to product innovation and offering to broader distribution and investor base

BOSTON, April 16, 2021 /PRNewswire/ - Manulife Investment Management today announced that it has named Alex Catterick as Senior Managing Director, high-net-worth strategy, Private Markets. In this newly created position, Alex will be responsible for defining the private markets global high-net-worth (HNW) strategy and managing the development, launch and growth of new products designed for the HNW investor base.

Manulife Investment Management offers private asset investment capabilities across private equity and credit, real estate, infrastructure, timberland, and agriculture to investors globally. With more than $100 billion in AUMA managed on behalf of clients including Manulife's general account, Manulife Investment Management's capabilities include recent milestones for investors such as closing US$1.5 billion in commitments to Manulife Private Equity Partners, L.P. in 2020, and closing approximately US$2 billion in capital commitments to the John Hancock Infrastructure Fund I in 2018.

"We are thrilled to have Alex take the reins in this new role," said Steve Blewitt, global head of private markets, Manulife Investment Management. "We have one of the most diverse set of private market capabilities in the industry and high-net-worth investors represent one of the fastest growing channels. Alex's expertise will be instrumental as we enter this exciting new chapter for the business connecting high-net-worth investors with strategies that were historically only available for institutional investors."

Alex joins Manulife Investment Management with more than two decades of experience in alternative investment, wealth management and capital markets. Most recently, he served as Regional Head of Alternative Investments at HSBC, where he led alternative investment distribution, product management and strategy across the Wealth Management and Private Banking platform in the Americas.

"Alex's decades of experience in both high-net-worth and private markets allows us to expand and innovate our product structures to provide additional opportunities for HNW investors," said Ken Pogrin, chief operating officer, private markets, Manulife Investment Management. "Through this development, we hope to educate and provide access for investors who may be missing out on the significant diversification and return potential of private assets."

About Manulife Investment Management 
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.  

As of December 31, 2020, Manulife Investment Management had CAD$966 billion (US$758 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com. 

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SOURCE Manulife Investment Management

FAQ

What is the significance of Alex Catterick's appointment at Manulife Investment Management?

Alex Catterick's appointment as Senior Managing Director for high-net-worth strategy is significant as it aims to enhance product offerings for high-net-worth investors, potentially increasing revenue sources.

How much does Manulife manage in assets?

As of December 31, 2020, Manulife Investment Management managed CAD $966 billion (US $758 billion) in assets.

What strategies will Alex Catterick focus on in his new role?

In his new role, Alex Catterick will focus on defining and managing the private markets global high-net-worth strategy, developing innovative products designed specifically for high-net-worth investors.

What experience does Alex Catterick bring to Manulife Investment Management?

Alex Catterick brings over two decades of experience in alternative investments and wealth management, previously serving as Regional Head of Alternative Investments at HSBC.