Manulife International and Standard Chartered Bank in Hong Kong are beginning a 15-year distribution partnership, which came into effect at the beginning of this month.
The agreement gives Manulife the exclusive right to offer its Mandatory Provident Fund (MPF) to Standard Chartered’s customers in Hong Kong, both companies said in a statement.
As part of the arrangement, Manulife has acquired Standard Chartered’s existing MPF and ORSO businesses, and its related investment management entity. The strategic partnership signifies a long-term alliance between the two institutions aimed at offering quality retirement solutions managed by Manulife to customers of Standard Chartered through the latter’s extensive distribution network.
One of the Largest Asian Markets
As a result, both firms will bolster their investment and wealth management businesses by combining strengths in distribution reach, product offerings, investment expertise and technology platforms in Hong Kong, one of their largest Asian markets.
Both individual and corporate customers of Standard Chartered will now benefit from a more comprehensive range of retirement services, including access to a wider choice of MPF products covering 27 Manulife funds and professional advice via Standard Chartered’s newly expanded MPF Specialist Team stationed at a growing number of designated bank branches in Hong Kong.
(Above in the picture from left) Luzia Hung, Senior Vice President & Head of Employee Benefits, Manulife (International) Limited; Guy Mills, Chief Executive Officer, Manulife (International) Limited; May Tan, Chief Executive Officer for Hong Kong, Standard Chartered Bank (Hong Kong) Limited; and Vicky Kong, Managing Director & Regional Head, Wealth Management, Greater China & North Asia, Standard Chartered Bank (Hong Kong) Limited celebrate the start of their 15-year MPF distribution partnership.
