Manulife bolsters leadership in Asia with new CEOs for ID and SG

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Manulife has bolstered its leadership across Asia with a slew of appointments, with Lauren Sulistiawati being named as CEO of Manulife Indonesia as Ryan Charland transitions to Manulife Japan. Meanwhile, Benoit Meslet, CEO of Japan, will become the CEO of Singapore while Kah Siang Khoo, CEO of Singapore, takes on the role to lead emerging markets.

Starting 24 February 2025, Sulistiawati will work closely with Charland to ensure a seamless transition, reporting to Khoo. Sulistiawati joins from Commonwealth Bank, where she transitioned its operations to Overseas-Chinese Banking Corporation (OCBC) while maintaining positive customer experiences.

She has held leadership roles in various Indonesian and multinational banks, focusing on transformation, Syariah business growth, and regional insurance partnerships with FWD and AIA.

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Meanwhile, Charland's role is effective from 1 May 2025 and he will join Meslet in Japan in April to ensure a smooth transition. Under Charland’s leadership since 2019, Manulife Indonesia has increased market share and achieved a leading Net Promoter Score, according to the release. He recently launched Indonesia’s new Syariah company to tap into the large and underpenetrated Muslim population. His expertise in product development, distribution, operations, finance, and risk management will drive continued growth in Manulife Japan.

While in Singapore, Manulife's CEO of Japan Meslet will become the CEO of Singapore, effective 1 June 2025, pending regulatory approval. Since joining Manulife in 2020, Benoit has led the business to achieve four consecutive years of core earnings growth, double New Business Value since 2022. With over 20 years of leadership experience in Asia’s life insurance industry, he is wellprepared for this new role.

Khoo, on the other hand, will take on a new role as CEO of emerging markets, overseeing Cambodia, Indonesia, Malaysia, Myanmar, and the Philippines. Since joining Manulife in 2018, Khoo has driven sustainable growth, achieving double-digit CAGR in APE, NBV, and CE, and establishing Singapore as a key player in Asia.

He strengthened Manulife's market leadership with a notable bancassurance partnership with DBS. Under his guidance, the company introduced digital tools and new distribution models, enhancing operations and customer satisfaction. Khoo brings extensive financial services expertise and has served as past president of the Life Insurance Association of Singapore. During the transition period, Khoo will continue to serve as the CEO of Singapore, until he hands over the role to Meslet on 1 June.

On the other hand, Adrienne O'Neill, currently global controller and group chief accounting officer, has been appointed as Asia CFO. She will report to Phil Witherington, president and CEO of Manulife Asia and the company's global CFO Colin Simpson. O'Neill has been with Manulife for over 17 years and has held various senior finance roles, including global head of investor relations from 2018 to 2021.

As part of these changes, Michael Thomssen, the current Asia CFO, and Sachin Shah, head of emerging markets, will be leaving Manulife. Witherington will take on the role of President and CEO of Manulife globally, effective 9 May. Until his successor is announced, the Manulife Asia senior leadership team will report to him.

“These changes showcase the depth and strength of our leadership across Asia and position us to continue delivering high-quality sustainable growth and be the number one choice for customers,” said Witherington. “We are well on track to achieve our goal of contributing half of Manulife’s core earnings by 2027, and these leaders have consistently executed our strategy. Their leadership in these new roles will help define the next chapter for Manulife Asia.”

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