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Wednesday, July 14, 2010

Hancock Execs Take on New Roles

Reported by Armie Margaret Lee

Andrew Arnott, who became John Hancock Funds' chief operating officer last fall, has a new role. Arnott is now executive vice president in John Hancock Financial's investment management services team, The MFWire has learned.

Andrew Arnott
John Hancock Financial
The change occurred in late June.

Arnott now reports to Hugh McHaffie, president of John Hancock Wealth Management. Arnott retains some of his duties for the mutual funds, continuing to support John Hancock Funds CEO Keith Hartstein in product management, product management and fund adoption efforts.

Bruce Speca, executive vice president of IMS, and his team have taken on the newly created roles of asset allocation portfolio managers reporting to Warren Thomson, senior executive vice president and chief investment officer of MFC Global Investment Management. Speca's team includes Bob Boyda and Steven Medina, both senior vice presidents.

"Under the direction of Bruce Speca and his team in IMS, our asset allocation investment platform (Lifestyle and Lifecycle funds) has grown to more than $65 billion, a level requiring their dedicated focus," wrote Hancock spokeswoman Beth McGoldrick in e-mailed comments to the The MFWire.

"With this change, oversight of our US investment management platform (IMS) will now reside within John Hancock's US Wealth Management organization, under Andrew Arnott," McGoldrick added.

As to whether Hancock Funds plans to name a new COO, she replied: "Because Andrew retains product development and product management responsibilities for funds as well as other wealth management businesses, we felt it was not necessary to retain the Funds COO title."  

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