Financial Insights That Matter
Changes Include Emerging Markets, Indonesia, Japan, Singapore and Finance
HONG KONG, February 10, 2025 /PRNewswire/ — Manulife Asia has announced strategic changes to its senior leadership team across Emerging Markets, Indonesia, Japan and Singaporeand Finance.
“These changes showcase the depth and strength of our leadership across Asia and position us to continue delivering high-quality sustainable growth and be the number one choice for customers,” said Phil WitheringtonPresident and CEO of Manulife Asia. “We are well on track to achieve our goal of contributing half of Manulife’s core earnings by 2027, and these leaders have consistently executed our strategy. Their leadership in these new roles will help define the next chapter for Manulife Asia.”
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Dr. Khoo afternoon, CEO of Singapore, will be appointed as CEO of Emerging Markets, overseeing Cambodia, Indonesia, Malaysia, Myanmarand the Philippines. Since joining Manulife in 2018, Dr. Khoo has driven sustainable growth, achieving double-digit CAGR in APE, NBV, and CE, and establishing Singapore as a key player in Asia. He strengthened Manulife’s market leadership with a notable bancassurance partnership with DBS. Under his guidance, the company introduced digital tools and new distribution models, enhancing operations and customer satisfaction. Dr. Khoo brings extensive financial services expertise and has served as past president of the Life Insurance Association of Singapore. During the transition period, Dr. Khoo will continue to serve as the CEO of Singaporeuntil he hands over the role to Benoit Meslet on June 1.
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Benoit MesletCEO of Japan, will become the CEO of Singaporeeffective June 1, 2025pending regulatory approval. Since joining Manulife in 2020, Benoit has led the business to achieve four consecutive years of core earnings growth, double New Business Value since 2022, and deliver a fast-paced digital transformation, resulting in record-high customer satisfaction and top-quartile employee engagement. With over 20 years of leadership experience in Asia’s life insurance industry, he is well-prepared for this new role.
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Ryan Charland, CEO of Indonesia, will transition to CEO of Japan, effective May 12025. Mr. Charland will join Mr. Meslet in Japan in April to ensure a smooth transition. Under Mr. Charland’s leadership since 2019, Manulife Indonesia has increased market share and achieved a leading Net Promoter Score. He recently launched Indonesia’s new Syariah company to tap into the large and underpenetrated Muslim population. His expertise in product development, distribution, operations, finance, and risk management will drive continued growth in Manulife Japan.
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Lauren Sulistiawati is appointed CEO of Indonesiastarting February 24, 2025pending regulatory approval. She will work closely with Mr. Charland to ensure a seamless transition, reporting to Dr. Khoo. Ms. Sulistiawati joins from Commonwealth Bank, where she successfully transitioned their operations to Overseas-Chinese Banking Corporation (OCBC) while maintaining positive customer experiences. She has held leadership roles in various Indonesian and multinational banks, focusing on transformation, Syariah business growth, and regional insurance partnerships with FWD and AIA.
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Adrienne O’Neill, Global Controller and Group Chief Accounting Officer, is appointed Asia Chief Financial Officer, reporting to Colin SimpsonGlobal Chief Financial Officer, and Phil Witherington. Ms. O’Neill has been with Manulife for over 17 years, and has held a variety of key Finance roles, most recently as Global Controller and Group Chief Accounting Officer. She also served as the Global Head of Investor Relations from 2018 – 2021.
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As part of these changes, Michael ThomssenChief Financial Officer, Asia and Sachin ShahHead of Emerging Markets, will be leaving Manulife. We thank them both for their contributions to Manulife and wish them all the best in their future endeavours.
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