Manulife to hire locally to bulk up China pensions business

Manulife plans to hire local talent to enhance its pension business in China as it aims to grab a strong foothold in the newly-opened private pension provider space. The Canadian financial institution will use its wholly-owned fund management business to expand the footprint of its pensions business. “We understand the recipe for success in China is a combination of local talent and the ability to leverage global capability,” said Michael Dommermuth, head of wealth and asset man…