Was CFO of John Hancock Financial Services
Boston – John Hancock Financial Services today announced that Marc Costantini has been named President of the Variable Annuities business, effective February 19. Mr. Costantini, most recently Chief Financial Officer of John Hancock Financial Services, will report to Hugh McHaffie, President of John Hancock Wealth Management. Mr. Costantini succeeds Mr. McHaffie as head of the variable annuities unit.
“Marc brings a depth of financial acumen and operations experience to his new role as head of our highly successful variable annuities business,” said Mr. McHaffie. “Our seasoned wholesalers and veteran management team just delivered another year of strong sales in variable annuities, and Marc’s leadership will set the stage for continued success in this important business unit.”
Mr. Costantini said: “I look forward to working with the variable annuities team as we continue to stress product innovation, consistent and focused marketing, and expanded distribution relationships. The strength of the John Hancock brand, and our AAA rating by Standard & Poor’s, are enormous positives for our business going forward.”
Mr. Costantini, 37, joined Manulife Financial in 1990, and has held numerous positions over the past 17 years with both Manulife and John Hancock. In addition to serving as CFO of John Hancock, he also previously was Chief Financial Officer of the Wealth Management division, and General Manager of the Managed Accounts business. Prior to that he served as head of the Annuity Product Development unit, General Manager of Life and Non-Traditional Reinsurance businesses, and CFO of the Reinsurance operations.
A native of Montreal, Mr. Costantini holds a B.Sc. in Actuarial Science from the University of Concordia. He is a fellow of the Society of Actuaries, a fellow of the Canadian Institute of Actuaries and a Member of the Academy of Actuaries. He has worked for Manulife in Toronto and Wiesbaden, Germany, and currently resides in Boston.
About Manulife Financial and John Hancock
John Hancock is a unit of Manulife Financial Corporation, a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$414 billion (US$355 billion) as at December 31, 2006.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including life insurance, fixed and variable annuities, mutual funds, 401(k) plans, long term care insurance, college savings, and other forms of business insurance.
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