Manulife Financial has named Paul Lorentz senior vice president of investment products and president of Manulife Investments – a new position that reflects the company’s strategic focus on its wealth management business.

As president of Manulife Investments, Lorentz will lead the organization that specifically focuses on investment fund products, including segregated funds, mutual funds, annuities and guaranteed products.

“This is a new senior executive position in our Canadian business that reflects our view that our wealth management business holds tremendous potential,” said Roy Firth, executive vice president, individual wealth management, Manulife Financial. “We are strategically focusing on our wealth operations to ensure we are well-positioned to leverage these opportunities.”

Firth noted that the company has already expanded the breadth of its operations through acquisitions, investing in the development of innovative products, and strengthening its distribution channels for this market. Manulife recently acquired AIC retail funds and Berkshire-TWC Financial Group.

“Paul brings excellent insight into the opportunities and challenges facing advisors and is uniquely and ideally suited to this new position,” Firth said. “As well, he brings an extensive understanding of our business through senior product positions”

Lorentz has worked in various Manulife businesses since joining the company in 1993, including individual insurance and group savings and retirement solutions. Most recently, he was senior vice president of distribution – a unit that delivers expertise, service and information to support Manulife’s distribution partners and more than 40,000 advisors across the country.

IE