The Canadian Chamber of Commerce has named Donald Guloien, president and CEO of Manulife Financial Corp., the 2012 International Business Executive of the year.

Established in 1992, this award recognizes business executives of Canadian companies whose exemplary leadership has developed a strong, competitive Canadian presence in global markets.

“Mr. Guloien richly deserves this recognition for the extraordinary success Manulife Financial has achieved as an international leader in the financial services industry”, said Robert Youden, chairman of the Canadian Chamber of Commerce, in a release.

Toronto-based Manulife Financial (TSX:MFC) is a global financial services company with principal operations in Asia, Canada and the United States.

“This award is recognition of Manulife Financial’s international success, the credit for which goes to many current and past employees and other partners around the world. I particularly want to recognize the significant support Manulife has received from our embassies, consulates and elsewhere in the Department of Foreign Affairs and International Trade, as well as the Department of Finance and the Prime Minister’s Office,” noted Guloien. “I also want to thank our board of directors for their encouragement, advice and support of all our international expansions.”

Guloien has held a variety of leadership roles within Manulife, through which he has developed operating experience in Canada, the U.S., Europe and Asia. From 1994 to 2001, he led Manulife’s business development unit, spearheading a number of key acquisitions, divestitures and strategic initiatives, including: Manulife’s demutualization and its re-entry into Japan.

From 2001 to 2009, he was responsible for Manulife’s worldwide investment operations, for which the company’s general fund assets grew from $80 billion to now over $200 billion. He also led the significant growth of the company’s third-party asset management business, Manulife Asset Management, which now manages assets of $220 billion.

In 2009, Guloien became president and CEO of Manulife Financial. Over the past three years, the company’s Asian operation has become its fastest growing division, representing about one-third of the company’s earnings excluding notable items.

The award will be presented to Guloien at a dinner in Toronto on November 15.

Other recipients have included auto parts magnate Frank Stronach, mining and real-estate entrepreneur Peter Munk, Scotiabank’s Peter Godsoe and the two former chief executives of Research In Motion — Jim Balsillie and Mike Lazaridis.