Subjects: PER, SCZ
Patrick Murphy Named CEO Of John Hancock Retirement Plan Services
BOSTON, April 13, 2018 /PRNewswire/ -- Patrick Murphy has been named Chief Executive Officer, John Hancock Retirement Plan Services (JHRPS), part of John Hancock, the U.S. division of Toronto-based Manulife.
Mr. Murphy, who is based in Boston and is JHRPS' president, will replace Peter Gordon, who will be retiring from the company later in the year.
In his new role, he will be responsible for leading all facets of our US retirement record keeping business. His appointment is effective immediately.
"Patrick has been a critical member of the leadership team for our retirement business since coming on board in 2015," said Mr. Gordon. "He has been instrumental in expanding our solutions across the retirement plan market to service more than 57,000 plans and help more than 2.7 million participants¹. I'm confident that Patrick's experience, expertise and commitment will help serve our customers as we continue to grow."
Mr. Murphy joined Hancock when the company acquired New York Life's RPS business where he had been chief executive officer. The transaction increased Hancock's RPS assets under administration by approximately 60 percent, accelerated its expansion into the mid-case to large-case private sector retirement plan markets, and added scale and expertise in a strategically significant line of business.
He had been at New York Life for 11 years in a variety of roles. He has spent his career working in retirement plan services, previously working at American Express Retirement Plan Services, Transamerica and Putnam Investments.
Mr. Murphy graduated from Brown University with a B.A. in Organizational Behavior and Management.
About John Hancock Retirement Plan Services
John Hancock is a leader in the retirement plan services marketplace, servicing more than 57,000 plans and helping more than 2.7 million participants¹, making it one of the largest full-service providers of 401(k) plans across all plan sizes.
About John Hancock and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions.
Assets under management and administration by Manulife and its subsidiaries were more than $1.04 trillion (US$829.4 billion) as of December 31, 2017. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. We also offer advice through Signator, a network of independent financial advisors. Additional information about John Hancock may be found at johnhancock.com.
1 John Hancock Retirement Plan Services consists of John Hancock Life Insurance Company (U.S.A.) (not licensed in New York), John Hancock Life Insurance Company of New York (licensed in New York), Valhalla, New York and John Hancock Retirement Plan Services, LLC. Approximate unaudited figures for John Hancock Retirement Plan Services division, provided on a U.S. statutory basis and is as of December 31, 2017.
John Hancock Retirement Plan Services, Boston, MA 02210.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
© 2018 All rights reserved.
MGR041218446547
PR-2018-21
SOURCE John Hancock Retirement Plan Services
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