2010 News Releases

Hong Kong – MFC Global Investment Management today announces that Mr. Yu-Ming Wang has been appointed Head of Fixed Income for the company’s Asian operations. Yu-Ming, who joined the company in 2009 as Head of North Asia Investments, takes up the role with immediate effect and will report locally to Michael Dommermuth, Head of Asia Investments at MFC Global Investment Management. He oversees a team of more than 30 portfolio managers and analysts across 10 locations in Asia. 

Yu-Ming, a veteran of more than 20 years of fixed income investing, started his career in 1987 as an analyst with M&T Bank in New York. Having clocked up more than eleven years as a trader and in senior portfolio management roles, Yu-Ming co-founded Structured Credit Partners in New York in 1998. As Chief Investment Officer, he oversaw the creation and management of Commercial Real Estate Collateralized Debt Obligation (CRE CDO) portfolios. 

Before joining MFC Global Investment Management, Yu-Ming spent nine years at Wachovia Corporation in New York and Hong Kong. During this time he created and oversaw a global structured credit products operation within the Fixed Income Division before moving to Hong Kong to become Asia Head of the company’s Global Markets and Investment Banking Division. 

Most recently at MFC Global Investment Management Yu-Ming oversaw the company’s North Asia Investments including the integration of the company’s¹ Taiwan asset management operation and played an important role in the acquisition of a 49% stake in Manulife TEDA, the firm’s¹ joint venture asset management company in China. He also oversaw the launch of an investment grade bond fund by Manulife Asset Management (Taiwan) Co Ltd which was named ‘Most Innovative Product’ in Taiwan at prestigious regional awards². In his new role, he replaces Victoria Ip-Cheung who left the company at the end of May 2010. 

Announcing the appointment, Michael Dommermuth, Head of Asia Investments at MFC Global Investment Management said: “Yu-Ming’s appointment comes at a time of significant development for our fixed income capabilities in Asia – we are boosting our teams across the region, winning important mandates and growing our fixed income assets under management. Yu-Ming has been an integral part of key achievements such as the gaining of a Qualified Foreign Institutional Investor (QFII) quota and the forthcoming launch of an RMB bond fund and we will continue to build on these and other fixed income initiatives in Asia.” 

Barry Evans, Global Chief Investment Officer, Fixed Income at MFC Global Investment Management said: “Yu-Ming’s extensive fixed income background and his considerable achievements in this asset class mean he is exceptionally well-placed to lead the charge for our fixed income capabilities in Asia. His international experience in this asset class will ensure that we continue to develop strategies and initiatives to offer institutional investors the powerful mix of global investment expertise and local market insight.” 

The announcement follows recent significant achievements that demonstrate the strength of MFC Global Investment Management’s fixed income team in Asia. Earlier this month, the company¹ announced that it had been selected by the Hong Kong Hospital Authority to manage a Hong Kong dollar bond mandate for its ORSO scheme. In June, the company¹ was awarded a US$200million QFII quota and is planning to launch an RMB bond fund, as well as a China A Share fund, to fulfill this quota. 

MFC Global Investment Management manages over US$31billion in assets in Asia as at March 31, 2010, of which US$15 billion is in fixed income assets.  

About MFC Global Investment Management

MFC Global Investment Management® is the asset management division of Manulife Financial. MFC Global Investment Management’s diversified group of companies provides comprehensive asset management solutions for institutional investors, investment funds and individuals in key markets around the world. This investment expertise extends across a full range of asset classes including equity, fixed income and alternative investments such as oil and gas, real estate, timber, farmland, as well as asset allocation strategies. 

About Manulife Financial

Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions.  Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were Cdn$446 billion (US$440 billion) as at March 31, 2010. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

 Notes to editors:

¹Manulife Asset Management (Hong Kong)

²The Manulife Asia Pacific Bond fund was named Most Innovative Product, Taiwan at Asia Asset Management’s Best of the Best Awards 2009.

Media Contact:

For MFC Global Investment Management in Asia:

Catherine Battershill
MFC Global Investment Management (Asia)
Tel: +852 2202 1634
catherine_battershill@mfcglobal.com