Hugh McHaffie is Executive Vice President, U.S. Wealth Management.
McHaffie leads the Variable Annuities, Retirement Plan Services, Mutual Funds, Fixed Products, Retirement Income and Rollover Solutions, and Investment Management Services businesses. Wealth Management is a significant distributor of financial services products in the U.S. These business units represent more than one quarter of the company’s earnings in 2007, generated almost $10 billion in revenue and more than $1 billion in earnings. McHaffie is a member of the executive committee of Manulife Financial, the parent company of John Hancock Financial.
Prior to this role, McHaffie was Senior Vice President, John Hancock Variable Annuities, a position he assumed in May 2006. This represented a return to Manulife, where he held the position of Vice President, Annuity Product Management, from 1990 through 1999. Prior to rejoining John Hancock, McHaffie was Senior Vice President, Individual Business Product Management for MetLife. McHaffie was responsible for product management of all Individual Life Insurance and Annuity products distributed by MetLife’s multiple distribution channels. He also served as chairman of the Metropolitan Series Fund and president of MetLife Advisors.
From 1990 through 1999, McHaffie was responsible for the development of North American Security Life’s variable annuities distributed though Wood Logan Associates. North American Security Life was a subsidiary of North American Life, a company that merged with Manulife in 1996 and formed the base of the current John Hancock variable annuity business.
McHaffie is a graduate of the University of Toronto with a B.A. in Economics. He is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. He resides in Walpole, Massachusetts with his wife Karen and their four children.