Manulife Board of Directors Announces Establishment of Separate Audit and Risk Committees

News provided by

Manulife Financial

Feb 11, 2010, 05:26 ET

TORONTO, Feb. 11 /PRNewswire-FirstCall/ - Gail Cook-Bennett, Chair of the Board of Directors of Manulife Financial Corporation today announced that the Board has decided to establish a separate Audit Committee and Risk Committee of the Board. As a result of the increased volatility in the financial markets since September 2008 and the changing risk environment, the Board of Directors has increased, and intends to continue to increase, its focus on risk oversight.

It is anticipated that the first Risk Committee meeting will be held on April 7, 2010 and the first meeting of the newly constituted Audit Committee will be held on May 5, 2010.

The following are the members of the newly constituted committees:

    Audit Committee                  Risk Committee

    Richard B. DeWolfe (Chair)       John R. V. Palmer (Chair)
    Thomas P. d'Aquino               Linda B. Bammann
    Robert E. Dineen, Jr.            Richard B. DeWolfe
    Robert J. Harding                Scott M. Hand
    Luther S. Helms                  Robert J. Harding
    John R. V. Palmer                Thomas E. Kierans
    Gordon G. Thiessen

About Manulife Financial

Manulife Financial is a Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers customers a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$440 billion (US$420 billion) as at December 31, 2009.

Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

SOURCE Manulife Financial

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