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Rating:Hancock Joins with Banks for Distribution Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, June 26, 2000

Hancock Joins with Banks for Distribution

Reported by Sean Hanna, Editor in Chief

The John Hancock Financial Institutions Group (JHFIG), the sales and marketing arm of John Hancock Insurance, has formed three alliances aimed at expanding the insurer's distribution through banks and other financial institutions. The new partners are Cincinnati-based Fifth Third Bank, San Diego-based CUSO Financial Services, and Birmingham, AL-based SouthTrust Securities.

Fifth Third Bank will sell the John Hancock Revolution annuities in its 12 affiliated banks in Ohio, Kentucky, Indiana, Florida and Arizona through its 150 investment representatives to brokerage customers.

CUSO Financial Services, a third-party marketer to credit unions, is offering JHFIG mutual fund and annuity products. "CUSO Financial Services will benefit from the diverse product line offered by the John Hancock Financial Institutions Group. The ability to access mutual funds, variable annuities, fixed annuities and protection products from one vendor makes Hancock a great fit for our growing organization," said CUSO President Valorie Seyfert.

SouthTrust Securities, has selected John Hancock for its preferred list for the Guaranteed Principal Annuity and the Revolution variable annuity. SouthTrust Securities also will sell John Hancock's mutual funds through its 125 registered representatives.

"John Hancock's strong brand recognition and competitive, innovative products led us to look closely at building a relationship with the company," said Jim Nonnengard, SVP, director of retail sales. "The company's proven commitment to bank distribution, and value-added services and programs, convinced us that John Hancock would be an excellent strategic partner for growing our business."

"We're delighted that CUSO, Fifth Third and SouthTrust have formed relationships with John Hancock," said Timothy Waterworth, vice president, JHFIG. "We're committed to leveraging our strong brand, complete line of products and business development programs to help these new customers grow their market share. We look forward to working with our bank partners, and helping them achieve their goals."  

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