DAVOS, Switzerland- Job cuts are not “top of mind” for Manulife Financial Corp, Canada’s largest insurer, as it sees significant growth opportunities, fuelled particularly by Asia, CEO Roy Gori said on Monday.
“We are in growth mode,” Gori told the Reuters Global Markets Forum on the sidelines of the World Economic Forum’s annual meeting in Davos, adding that his firm has been increasing headcount.
“We are growing at more than double or triple the GDP in most of the markets that we operate in. That means that we’re investing organically to grow our business and … possibly looking at inorganic opportunities for growth as well.”
Gori said Manulife’s US and Canadian markets were stable and growing at a reasonable rate, while seeing a “phenomenal opportunity” in Asia due to the region’s expanding middle-class, despite any trade shocks that may come its way.
While China’s reversal of its zero-COVID policy may pose some short-term challenges, Gori expected activity to pick up in the second half of the year, providing impetus to Asia and the rest of the world. – Reuters
