Kai Sotorp is leaving his post as chief executive of the Asia-Pacific region at UBS Global Asset Management to take on a senior role at Manulife Asset Management.
Kai Sotorp is leaving his post as chief executive of the Asia-Pacific region at UBS Global Asset Management to take on a high-level role at Manulife Asset Management.
Sotorp has been appointed as president and CEO of Manulife Asset Management, as well as executive vice president and global head of wealth and asset management. He will be based in Toronto, subject to immigration approvals, the firm said.
This is a new role at the firm that Sotorp will officially take up on July 1. He has 25 years of international financial services and asset management experience, including extensive experience in Asia.
Most recently and since September of 2012, Sotorp worked at UBS Global Asset Management as CEO for the Asia-Pacific region. He was also UBS group managing director and a member of UBS Global Asset Management’s executive committee. Based in Hong Kong, he oversaw $120 billion in assets under management and 495 employees.
Previously, he spent 11 years with UBS Global Asset Management in numerous roles, including: group managing director in Chicago, IL; CEO, Americas, and member of UBS’ group managing board; regional head of Asia-Pacific; and president of UBS Global Asset Management (Japan).
In his new role at Manulife, Sotorp will be a member of the firm’s executive committee and management committee, reporting to Warren Thomson, senior executive vice president and chairman of Manulife Asset Management.
As president and CEO of Manulife Asset Management – a role previously held by Thomson on an interim basis - Sotorp will oversee Manulife Asset Management while partnering in product development and distribution with the firm’s wealth businesses - providing mutual funds, group pensions and investment-linked insurance globally.
Manulife Asset Management is the global asset management arm of Manulife Financial; it provides asset management services for institutional and retail clients globally. As at March 31, 2014, AuM for Manulife Asset Management stood at C$298 billion ($269 billion).