INSURER Manulife has appointed Benoit Meslet, the current chief executive officer of its Japan office, to head its Singapore division.
Meslet will replace Khoo Kah Siang on Jun 1 – pending regulatory approval – as Khoo moves to the helm of Manulife’s emerging markets business unit, which oversees Cambodia, Indonesia, Malaysia, Myanmar, and the Philippines.
Since joining the insurer in 2020, Meslet has led the business to notch four consecutive years of core earnings growth and double new business value from 2022, Manulife said on Monday (Feb 10).
He also supported its digital transformation, resulting in record-high customer satisfaction and top-quartile employee engagement.
“With over 20 years of leadership experience in Asia’s life insurance industry, he is well-prepared for this new role,” the insurer said.
Khoo joined Manulife in 2018 and helped to drive sustainable growth and establish Singapore as a key player in Asia, the insurer said. “Khoo brings extensive financial services expertise and has served as past president of the Life Insurance Association of Singapore,” it added.
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Khoo will continue to serve as Singapore CEO, until he hands over the reins to Meslet on Jun 1.
Slew of changes
These were just two of several leadership changes that the insurer announced on Monday.
Phil Witherington, president and CEO of Manulife Asia, said that these changes “showcase the depth and strength of our leadership across Asia and position us to continue delivering high-quality sustainable growth”.
“We are well on track to achieve our goal of contributing half of Manulife’s core earnings by 2027, and these leaders have consistently executed our strategy. Their leadership in these new roles will help define the next chapter for Manulife Asia,” he added.
Witherington is assuming a new role as well, as president and CEO of Manulife with effect from May 9. He takes over from Roy Gori, who will be retiring.
Witherington’s replacement as Manulife Asia CEO has not yet been announced.
The senior leadership changes in the insurer’s Asia business include Ryan Charland, Indonesia CEO, replacing Meslet at the Japan office with effect from May 1.
Lauren Sulistiawati will succeed Charland as head of Manulife’s Indonesia operations on Feb 24.
Adrienne O’Neill, the group’s global controller and chief accounting officer, has been appointed as chief financial officer for Asia. She replaces Michael Thomssen, who is leaving Manulife.
