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The Covid-19 pandemic has unleashed a global economic crisis that has had a dramatic impact on all aspects of society and life.
In Hong Kong, the unemployment rate is at its highest in 16 years and is expected to edge up to near 7% around the Lunar New Year
1. As the economic situation remains uncertain, even those who remain employed have seen their income affected.
A recent desired retirement tracker survey reveals that 55% of respondents have had their income affected by the pandemic, and 38% have used their retirement reserves to meet daily expenses. The survey also reveals that for those with insufficient retirement reserves, the median retirement reserve shortfall has reached a record high HK$2.23 million (US$287,617). Some 61% of respondents say they will have to delay their retirement plans.
Manulife Investment Management reinforces its digital prowess in Asia with new senior role
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HONG KONG, Jan. 14, 2021 /PRNewswire/ Manulife Investment Management today announced that Grace Ho, Chief Marketing Officer, Asia, is appointed Head of Direct Digital Business and Portfolios, Asia. This is a newly created role which reflects the firm s commitment to expanding its digitally-enabled distribution capability to embrace the new normal: a new set of customer needs across investing and retirement, and new distribution models with intermediaries and direct digital platforms.
Michael Dommermuth, Head of Wealth and Asset Management, Asia, Manulife Investment Management, commented: As we continue to invest in digitalization, we see the need to revolutionize our structure and create a mission control that brings together strategic management of business propositions, portfolios of digital offerings, and alignment with technology across differen