Manulife Wealth & Asset Management Hires Citigroup 32-Year Veteran Fabio Fontainha as Head of Asia Succeeding Michael Dommermuth Who is Departing at the End of 2024, 32-Year Career at Citigroup Holding Senior Roles Including as Citi Private Bank Global Business Execution Head, Global Head of CitiGold & CitiGold Private Client, Co-Head Asia Citi Global Wealth, Retail Bank Head APAC & South Asia, ASEAN Consumer Cluster Head, Retail Banking Head Japan and Latin America Consumer & Commercial Banking Head
21st November 2024 | Hong Kong
Manulife Wealth & Asset Management has hired Citigroup 32-year veteran Fabio Fontainha as Head of Asia (effective 2025 February), succeeding Michael Dommermuth who is departing at the end of 2024. Fabio Fontainha joins Manulife after a 32-year career at Citigroup, holding senior roles including as Citi Private Bank Global Business Execution Head, Global Head of CitiGold & CitiGold Private Client, Co-Head Asia Citi Global Wealth, Retail Bank Head APAC & South Asia, ASEAN Consumer Cluster Head, Retail Banking Head Japan and Latin America Consumer & Commercial Banking Head. Fabio Fontainhawill be based in Hong Kong, reporting to Paul Lorentz (President & CEO) and accountability to Phil Witherington (President & CEO, Manulife Asia). Manulife (21/11/24): “Manulife Wealth and Asset Management (Manulife WAM), the global wealth and asset management business of Manulife that brings investment solutions to institutional, retirement, and retail customers across the globe, has announced Fabio Fontainha as its new Head of Wealth & Asset Management, Asia, effective February 2025. Fabio succeeds Michael Dommermuth, who is leaving the firm at the end of the year. Fabio will be a member of the Manulife WAM leadership team and Manulife’s Global Leadership Team (GLT). He will be based in Hong Kong and report to Paul Lorentz and will also have accountability into Phil Witherington, President and CEO, Manulife Asia. Fabio will collaborate closely with all country and regional heads, chief investment officers, and global product teams to deliver investment capabilities for the region. He will also drive Manulife WAM’s strategic growth plans locally and provide local oversight to the retail, retirement and institutional businesses, partner closely with local functional heads, and serve as a touch point for teams working on strategic initiatives throughout Asia. Fabio was previously at Citigroup where he had an extensive career spanning more than three decades including experience with consumer and private wealth, as well as retail markets. He has also lived and worked in Tokyo, Singapore, and Kuala Lumpur during this time. He most recently served as Global Business Execution Head – Citi Private Bank. Throughout his career he has managed global, regional, and local businesses in Asia, Latin America, Europe, the United States, and the Middle East with various mandates including Head of Retail Banking for Citi across APAC (Asia Pacific) and EMEA (Europe Middle East Africa). Manulife WAM believes its business will see additional organic growth opportunities as a result of prevalent global megatrends including the retirement savings gap, increased longevity and the need for individuals to prepare for potentially spending additional years – or even decades – in retirement compared to previous generations, and the anticipated demand from both the middle class and high net-worth populations who are seeking additional solutions to save and invest and new strategies to diversify their portfolios.”
“ Manulife Wealth & Asset Management Hires Citigroup 32-Year Veteran Fabio Fontainha as Head of Asia Succeeding Michael Dommermuth Who is Departing at the End of 2024, 32-Year Career at Citigroup Holding Senior Roles Including as Citi Private Bank Global Business Execution Head, Global Head of CitiGold & CitiGold Private Client, Co-Head Asia Citi Global Wealth, Retail Bank Head APAC & South Asia, ASEAN Consumer Cluster Head, Retail Banking Head Japan and Latin America Consumer & Commercial Banking Head “
Manulife Wealth & Asset Management, President & CEO, Paul Lorentz: “We are excited for Fabio to build on the momentum that has been growing for Manulife Wealth and Asset Management in Asia as we look to provide wealth and investment solutions to even more investors. We believe his expertise in key areas of focus for our business will make his transition into the role feel tangible almost immediately. We are also appreciative of Michael’s commitment to our firm and the impact he has had on our expansion in multiple markets over more than two decades, ranging from multiple emerging Asia markets including India, as well as the conversion of our joint venture in China into a wholly-owned entity in Manulife Fund Management. We are grateful for his leadership that has provided broader capabilities to our clients across Asia.”
Incoming Manulife Wealth & Asset Management, Head of Asia, Fabio Fontainha: “I’m delighted to be joining Manulife WAM at a significant inflection point in their business. I have been privileged to see the expansion and growth in Asia throughout my career and admire the progress and the commitment Manulife WAM has made to serve its clients in the region. I am looking forward to bringing my knowledge and expertise to this role and help to meet the goals of our institutional, retail and retirement clients.”
Manulife Wealth & Asset Management – As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
Manulife Wealth & Asset Management Hires Citigroup 32-Year Veteran Fabio Fontainha as Head of Asia Succeeding Michael Dommermuth Who is Departing at the End of 2024, 32-Year Career at Citigroup Holding Senior Roles Including as Citi Private Bank Global Business Execution Head, Global Head of CitiGold & CitiGold Private Client, Co-Head Asia Citi Global Wealth, Retail Bank Head APAC & South Asia, ASEAN Consumer Cluster Head, Retail Banking Head Japan and Latin America Consumer & Commercial Banking Head
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