John Hancock Financial Services
today said that Michael A. Bell
, the senior executive vice president who now runs the company's Retail Sector, will add all the insurer's individual and group businesses that also sell insurance, annuities and mutual funds to his duties. The promotion puts more than 60 percent of John Hancock's P & L responsibilities, according to David F. D'Alessandro
, CEO and chairman.
Bell will now direct the company's mutual fund complex, its Canadian subsidiary, Maritime Life, and its international operations in China and Southeast Asia, according to press statement. He retains responsibility for the Retail Sector's operations including its customer service organization, all financial reporting associated with the sale of individual and group insurance products, Retail Information Technology Services and electronic commerce.
The insurer also consolidated its insurance and annuity sales, marketing and distribution operations under a new senior executive, James M. Benson
, who joined the company on December 30, 2002. Benson, 56, takes the title of president of John Hancock Sales and Marketing and a corporate senior executive vice president.
Benson is responsible for all of the company's distribution channels, whether wholly-owned, such as Signator, Inc., or independent, like the M Financial Group, as well as direct brokerage. He will also manage the company's bank and broker-dealer distribution networks and will oversee the company's insurance and annuity product design, development and marketing operation.
Both Bell and Benson report to D'Alessandro.
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