- Canada's Manulife Financial Corp plans at least two more top-tier hires in China this month to target the pensions business.
- Manulife became the first foreign financial firm to receive regulatory approval to wholly own a funds joint venture in November.
- China rolled out a private pension system in November across 36 cities, allowing individuals to open retirement accounts at banks.
- A flurry of foreign financial firms have qualified to participate in the scheme.
- Mutual fund assets run by Manulife’s joint venture grew by nearly 30% last year.
Manulife steps up hiring in China to tap big pensions opportunity
Canada's Manulife Financial Corp plans at least two more top-tier hires in China this month as it targets the pensions business in the fast-ageing society after taking full control of a joint venture, senior executives said.
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