Bringing decades of experience, Wayne Park has been appointed the head of John Hancock Retirement’s U.S. retirement plan and recordkeeping business with accountability for all aspects of the business, according to an announcement by the firm.
Park, who will oversee sales, relationship management, product, strategy, marketing, operations and technology, joins the firm as CEO, U.S. Retirement, and will be based in Boston. He also joins the global retirement leadership team and reports to Aimee DeCamillo, head of global retirement, Manulife Investment Management, parent company of John Hancock Retirement.
He replaces Sue Reibel who retired from the position and her nearly 30-year career at Manulife on Dec. 31, 2022.
Park most recently served as president of American Century Services for American Century Investments, responsible for direct-to-consumer and retirement plan businesses as well as an operations group supporting all client markets and channels. Prior to that, he was head of individual investors for T. Rowe Price Group. Park also previously worked for the Vanguard Group as principal in its institutional retirement plan business.
"We are happy to have found a leader of Wayne's caliber who brings incredible hands-on experience to the CEO role across multiple dimensions," DeCamillo said in a statement. "As we looked to the future of how to help provide secure retirements for our participants, we saw a combination of both leadership and intuition in participant needs and operational experience that will help to ensure success in the direction, evolution, and growth of our U.S. Retirement business."
"I look forward to leading the John Hancock Retirement business and to continuing the legacy of its commitment to working with financial professionals, TPAs and plan sponsors to achieve the best retirement outcomes for participants," added Park. "I am excited to join the global retirement leadership team and help the U.S. organization contribute to Manulife Investment Management's growing global retirement business."
Manulife Investment Management is a global retirement leader and operates across a diverse footprint of markets with a presence in Asia, Canada and in the U.S. With more than $332 billion in retirement assets under management and administration, the company supports over 260,000 retirement plans and serves over 8.7 million individual participants who rely on its retirement plan administration and investment expertise to help them prepare and save for their retirement.