There is a new head – based in Hong Kong – coming to the Asian wealth and asset management part of the Canadian financial services group.

There is a change at the top of the wealth and asset management business at Manulife in Asia. 

Manulife Wealth and Asset Management, or Manulife WAM, which is part of Canada-headquartered Manulife, has announced that former senior Citigroup figure Fabio Fontainha will be its new wealth and asset management head in Asia.

Fontainha, whose appointment is effective from January 2025, will succeed Michael Dommermuth, who is leaving the firm at the end of 2024, the firm said in a statement yesterday.

“We are excited for Fabio to build on the momentum that has been growing for Manulife Wealth and Asset Management in Asia as we look to provide wealth and investment solutions to even more investors. We believe his expertise in key areas of focus for our business will make his transition into the role feel tangible almost immediately,” Paul Lorentz, president and CEO, Manulife Wealth and Asset Management, said. He went on to thank Dommermuth for his contribution to the business.

Fontainha, who will be a member of the Manulife WAM leadership team and Manulife’s Global leadership team, will be based in Hong Kong. He will report to Lorentz and will be accountable to Phil Witherington, president and CEO, Manulife Asia.