TSX/NYSE/PSE: MFC; SEHK: 0945
TORONTO, July 2 /CNW/ - Manulife Securities is the new trade name for a
group of companies consisting of a mutual fund dealer, investment dealer and
insurance agency operating across Canada, following Manulife's purchase of
Berkshire-TWC Financial Group Inc.
"We are operating as a strong national firm that offers new opportunities
for independent advisors serving their clients across Canada, committed to
delivering the same high-quality service we provided in the past," explained
Manulife Securities' President Rick Annaert.
"Manulife Securities is one of Canada's pre-eminent financial
organizations serving more than 1,500 investment professionals, with the
backing of Manulife's overall strength and expertise," he added. "We have a
new look and are focused on leveraging the strengthened market and financial
position of the combined companies."
Independent advisors continue to be the backbone of both Manulife and
Berkshire, and that complementary culture has helped to complete a very smooth
integration, Mr. Annaert explained. "Manulife and Berkshire both bring a great
deal of value to the transaction, including the financial strength, resources
and track record to execute the best possible integration. The whole is truly
greater than the sum of its parts."
Manulife Securities businesses
As a result of a legal amalgamation today, a new company has been
created. At the same time, securities and insurance services also have been
renamed, all headquartered at the former Berkshire premises in Burlington,
As of today, Manulife Securities Investment Services Inc. became the new
name for the amalgamated company derived from two mutual fund dealers -
Manulife Securities International Ltd. and Berkshire Investment Group Inc.
Manulife Securities Investment Services Inc. is a member of the Mutual Fund
Dealers Association of Canada.
Manulife Securities Incorporated became the new name for Berkshire
Securities Inc., our investment dealer that continues as a member of the
Investment Industry Regulatory Organization of Canada (formerly the Investment
Dealers Association of Canada).
Finally, all business of the insurance broker affiliate - Berkshire
Insurance Services Inc. - will be transferred to Manulife Securities Insurance
Mr. Annaert and Frank Laferriere, Manulife Securities' Chief Financial
Officer and Chief Operating Officer, completed a 22-day road show to meet
advisors across Canada, to outline branding plans for the full-service firm.
"As a subsidiary of Manulife Financial, Manulife Securities enjoys the
benefits of affiliation with the financial strength, security, reputation and
resources of Canada's largest and only AAA-rated insurance company," Mr.
Annaert said. "This support, coupled with the dedication, knowledge and skills
of Manulife Securities' people, will distinguish us in the Canadian
Today's announcement follows regulatory approvals for the reorganization,
plus approvals last August for Manulife Financial to close its purchase of
Berkshire-TWC Financial Group Inc.
For more information on the dealership, please visit www.manulife.ca.
Advisors looking for more details, please visit www.manulifesecurities.ca
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group
serving millions of customers in 19 countries and territories worldwide.
Operating as Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse range of
financial protection products and wealth management services through its
extensive network of employees, agents and distribution partners. Funds under
management by Manulife Financial and its subsidiaries were Cdn$400 billion
(US$389 billion) as at March 31, 2008.
Manulife Financial is one of two publicly traded life insurance companies
in the world whose rated life insurance subsidiaries hold Standard & Poor's
Rating Services' highest "AAA" rating.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '0945' on the SEHK. Manulife Financial can be found on the Internet
For further information:
For further information: Media contact: Tom Nunn, Manulife Financial,
(519) 594-8578, firstname.lastname@example.org