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UPDATED ON: Tuesday, April 6, 1999

Manulife Financial:

John Richardson; Richard Coles; John D. DesPrez III; Donald A. Culolen; Donald A. Parker,
Senior Executive Vice President; Executive Vice President

From The Globe and Mail

John Richardson
Richard Coles
John D. DesPrez III
Donald A. Guloien
Donald A. Parker
Dominic D'Alessandro, President and CEO, is pleased to announce the following executive management appointments.

John Richardson is appointed Senior Executive Vice President with responsibility for Manulife's U.S. operations, Reinsurance and Corporate Services. He is also a member of Manulife's Board of Directors, being elected to the Board at the Company's annual meeting on March 25, 1999. Mr. Richardson joined Manulife in 1992, following 20 years of senior experience in financial services. He is a Fellow of the Institute of Chartered Accountants.

Richard Coles is appointed Executive Vice President, Investments, responsible for Manulife's Investment Portfolio that includes Real Estate, Canada & U.S. Mortgages, NAL Resources and Manulife Capital. In addition he is responsible for Manulife's Credit function. Mr. Coles joined Manulife in 1994.

John D. DesPrez III is appointed Executive Vice President, U.S. Operations, responsible for the management of the entire U.S. Division comprised of its insurance, pension and variable annuity business units. In addition, Mr. DesPrez serves as Chairman and Director of Manulife North America and is President of Manufacturers Investment Trust and Manulife USA.

Donald A. Guloien is appointed Executive Vice President, Business Development, responsible for the execution of mergers, acquisitions, divestitures and corporate strategic planning. In addition, Mr. Guloien is heading Manulife's demutualization project -- the conversion of the Company from a mutual life insurance company to an investor-owned, publicly traded stock company. He also holds the position of President, Manufacturers Life Insurance Company of America.

Donald A. Parker is named Executive Vice President and Chief Information Officer, responsible for the Company's utilization of information services and technology worldwide. Mr. Parker joined Manulife in 1998. He has more than 20 years of senior executive and consulting experience leading critical information technology transformations in major Canadian and US. corporations.

The Manufacturers Life Insurance Company (Manulife Financial) is a leading provider of financial protection products and investment management services to individuals, families, businesses and groups in selected international markets. Manulife Financial operates in 14 countries worldwide, with over 30,000 employees and agents. Funds under management by the Company and its subsidiaries were $96.7 billion as of December 31, 1998.

 

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