Two senior managers announce their retirement with replacements lined up for gradual transition
Manulife Investment Management has announced significant changes to its Canadian Fixed Income team.
Two experienced members of its team will retire in 2020. Terry Carr, senior managing director and chief investment officer of the Canadian Fixed Income team will retire on September 30 after a distinguished 33-year career in the investment industry, including 17 years at Manulife Investment Management, while Hosen Marjaee, senior managing director and senior portfolio manager, will also retire on March 31, 2020, after a notable 38-year career in the investment industry.
"We sincerely thank Terry and Hosen for their many contributions over the years and their continued dedication to the business," said Bernard Letendre, head of wealth and asset management, Canada. "Terry and Hosen have undoubtedly had a lasting and profound impact on our organization. At the same time, our team-based approach to senior leadership and portfolio management ensures we are continually leveraging the breadth and depth of talent across the organization."
Roshan Thiru, senior managing director and senior portfolio manager, will take on the role of head of Canadian Fixed Income. Thiru will also be added as a portfolio manager and lead the investment strategies for the funds and pools that Carr currently manages.
Thiru has been a member of the Canadian Fixed Income team since joining Manulife in 2008, focusing primarily on investment grade corporate debt mandates. He is one of Manulife Investment Management's most experienced portfolio managers with strong leadership ability and has been instrumental in managing the team's strategies during his tenure. With more than 19 years in investment management, Thiru is well positioned to lead the Canadian Fixed Income team.
Altaf Nanji, managing director and head of Credit Research, will be named as portfolio manager on the strategies where Marjaee is a portfolio manager, while Andrew Gretzinger, managing director, has been appointed head trader for Canadian Fixed Income, effective March 31, 2020. His portfolio manager responsibilities will be assumed by members of the team.
"Our succession planning strategy ensures we are continually developing our investment professionals to provide a high level of consistency in the management of our clients' assets and their experience with our organization over the long term," Letendre added.
With average experience of more than 20 years, the Canadian Fixed Income team is backed by a seasoned 12-person team with expertise across the full spectrum of the fixed-income asset class. There are more than 100 fixed income investment professionals at Manulife Investment Management globally.