Charles Guay, the former head of Standard Life Assurance Co. of Canada, will be relinquishing his role at Toronto-based Manulife Financial Corp. and departing the company at the end of 2016, Manulife announced on Monday.
Guay was president and CEO of Standard Life prior to Manulife’s acquisition of that company in early 2015. Since February 2015, Guay has been executive vice president and general manager of institutional markets with Manulife Canada, and president and CEO of Manulife Quebec.
“Charles decided that he wanted to take some time to focus on his young family,” said Marianne Harrison, senior executive vice president and general manager, Canadian division, in a statement. “I respect and understand his decision and I want to thank Charles for his critical role of integrating Standard Life’s operations into Manulife, increasing our presence within Quebec and leading our institutional markets business.”
Sue Reibel will succeed Guay as executive vice president and general manager of institutional markets in June. A search is underway for a new leader for Manulife Quebec, the company said.
Guay has agreed to remain in his role as president and CEO of the company’s Quebec division until a new leader is appointed, Harrison said.
“Working at Manulife has been a great opportunity to meet and work with incredible and talented people,” Guay said in a statement. “I have no doubt in their future success and wish them all the best.”
Reibel, who has spent 13 years in the institutional business, is currently senior vice president, consumer solutions at Manulife, at which she leads a team responsible for growing Manulife’s relationship with current customers and working with consumers to meet their financial needs. Reibel will be based out of the firm’s offices in Waterloo, Ont.
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