BOSTON, MA, (February 15, 2011) — Bill Peressini has been named Managing Director and Chief Financial Officer of the Hancock Natural Resource Group, Dan Christensen, HNRG’s Chief Executive Officer said today.
Mr. Perressini, whose appointment is effective immediately, will be replacing current CFO Mike Morgan, who is retiring after 12 years with the organization.
“We are very pleased to have Bill join us at HNRG as a key member of our leadership team. He brings a wealth of skill as well as experience in the timber industry to our organization,” Mr. Christensen said. “We wish Mike Morgan, who played a critical role in the rapid growth and success of HNRG during his tenure, all the best as he enters this new phase of his life.”
Mr. Perressini joins HNRG from Portland, Oregon-based Stimson Lumber, where has been Vice President and Chief Financial Officer since 2000. In addition to directing the finance and administrative units of the privately-held timber and forest products company, he was actively involved in all aspects of the operations of the business including acquisitions and financing. Previously, he had been Vice President and Treasurer of PacifiCorp.
Mr. Morgan will remain with HNRG as a consultant until April.
The Hancock Timber Resource Group, a division of Hancock Natural Resource Group, Inc., an operating company of Manulife Asset Management, manages more than five million acres of timberland across the United States as well as in Brazil, Canada, New Zealand and Australia. Additional information about HTRG may be found at www.hancocktimber.com.
Manulife Asset Management™ is the global investment management arm of Manulife Financial. Manulife Asset Management and its affiliates provide comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies.
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Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $478 billion (US$492 billion) as at March 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.