Bill Black, president and CEO of Maritime Life, is resigning his positions as the top executive of Maritime Life and leader of the Group and Pensions Business for Manulife Financial Corp.’s Canadian Division.

Today’s announcement follows Manulife’s recent decision to base the Group and Pensions Business executive position in Waterloo, Ontario.

“Since September, I have been leading the integration of the Group and Pensions businesses, as well as promoting the capabilities of Maritime Life and its people throughout Manulife,” said Black, in a news release.

“During that time, a substantial number of Maritime Life executives have taken new positions with Manulife and that process is continuing now with other staff. A strong leadership team has been put together in Group Benefits and Canadian Pension Operations and they have assembled a good plan for integration,” he added.

Black’s 34 years with Maritime Life culminated with his nine years as president and CEO. During that time he oversaw four successful acquisitions of other insurers.

“I wish both my longtime colleagues at Maritime Life and new colleagues at Manulife every success in their endeavours,” Black said. “And I will do whatever I can to ensure a smooth transition to the incoming leader.”

Manulife Financial completed its acquisition of John Hancock Financial Services Inc., the parent company of Maritime Life, at the end of April.