Manulife Financial Corp.’s asset management arm is demonstrating its commitment to equity coverage south of the border by hiring a new large cap growth team.
The move comes just a few months after Manulife hired portfolio managers to lead a new core value equity team, as well as tacking on a new team to cover international value equities. The ramp up has helped to diversify Manulife’s portfolio offerings, which has traditionally centred on fixed-income products.
The new large cap group will be led by Shannon Reid, who was most recently a senior portfolio manager at Wells Capital Management. Mr. Reid is bringing three of his colleagues with him, giving the group a total of four portfolio managers. The new group will be based in Charlotte, North Carolina.
If all goes according to plan, Manulife will keep adding equity teams in the coming months. Asia and emerging markets are the regions that are most likely to see new coverage groups.