Kai Sotorp has been appointed president and CEO of Manulife Asset Management and executive vice-president and global head of wealth and asset management.
In this new role, he will be responsible for growing and developing the company’s wealth and asset management operations globally. His appointment is effective on or about July 1, 2014. He will be based in Toronto, subject to immigration approvals.
Sotorp will also be a member of Manulife’s executive committee and management committee. He will report to Warren A. Thomson, senior executive vice-president and chairman of Manulife Asset Management.
“Kai is a proven business leader with extensive global experience in wealth and asset management,” said Thomson. “Developing Manulife Asset Management to its fullest is an important strategic priority for Manulife. Kai’s exemplary track record and international experience make him the ideal candidate to drive this business to its highest potential.”
As president and CEO of Manulife Asset Management, Sotorp will directly oversee Manulife Asset Management, the company’s global asset manager, and will partner in product development and distribution with Manulife’s wealth businesses, providing mutual funds, group pensions and investment-linked insurance globally.
Most recently and since September 2012, Sotorp had been with UBS Global Asset Management as CEO, Asia-Pacific. Based in Hong Kong, he oversaw US$120 billion in assets under management. Previously, he spent 11 years with UBS Global Asset Management in a variety of roles.
Prior to joining UBS, Sotorp was with American International Group and Kemper Financial Services.
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