Sotorp has also been appointed as president and chief executive of Manulife Asset Management and will be based in Toronto, subject to immigration approvals, the financial services group said. He will take charge of the role on or about 1 July.
He will be a member of Manulife’s executive committee and management committee and report to Warren A. Thomson, senior executive vice president and chairman of Manulife Asset Management.
With more than 25 years of international financial services and asset management experience, Sotorp will be responsible for growing and developing the company’s wealth and asset management operations globally.
He will directly oversee the company’s global asset management operations and partner in product development and distribution with Manulife’s wealth businesses providing mutual funds, group pensions and investment-linked insurance globally.
Sotorp succeeds Thomson, who had held that title on an interim basis after the Jean-François Courville former president and CEO left Manulife in January 2013 to join RBC Wealth Management.
Based in Hong Kong, Sotorp was a managing director with UBS Group and a member of UBS Global Asset Management’s executive committee. He has spent eleven years with UBS Global Asset Management in a variety of roles.
Prior to UBS, Sotorp was with American International Group as president AIG Global Investment Corp in Japan and with Kemper Financial Services as an executive vice president.
Canada-based Manulife and its subsidiaries had around C$635bn ($574 bn) in funds under management as of end-March. Assets under management for Manulife Asset Management were C$298bn ($269bn).
