Manulife Singapore has named a new CEO and president following the promotion of its ex-chief to a broader Asia role.

Manulife Singapore has named a new president and chief executive in Singapore.

With effect from 26 May 2014, Naveed Irshad assumes the top post at the firm, covering three key business segments: life insurance, wealth management and retirement solutions. 

Irshad, a Canadian, brings over 20 years of industry experience to the company, and most recently served as senior vice president for global accounts for the Reinsurance Group of America in Canada. Prior to that, he worked at Manulife for 16 years in a variety of business roles. 

He takes over from Annette King, who has been named vice president for client centricity, brand and communications in Asia. In this post, she is responsible for Manulife Asia for client strategies, brand communications and corporate events. King served as Manulife Singapore CEO for four years. 

The Singapore arm has been expanding its range of services in the past months, most recently with the launch of a new Asian bond fund with Manulife Asset Management Singapore. 

Canada-headquartered Manulife posted a 37 per cent drop in total wealth sales in Asia in the three months to 31 March 2014, with declines experienced across various markets. Reasons cited included lower sales in China and the timing of fund launches and were partly offset by increased sales in Taiwan and contributions from its acquisition in Malaysia.