The bustling streets of the North Bund in Hongkou District came alive with the rhythmic beats of drums and the vibrant colors of dragon dances on January 18, celebrating the grand opening of Manulife Investment Management's new office.
This event not only marks a significant expansion for the century-old financial firm but also highlights the district's ongoing transformation into a financial hub.
District leaders attended the opening ceremony at 396 Wuchang Road, including Li Qian, Party Secretary of Hongkou, Lu Ming, the district director and other guests.
The new office represents more than just a physical space—it symbolizes Manulife's deepening commitment to the Chinese market, particularly in Shanghai, where it has fostered strong ties for over three decades, according to the company.
Manulife Investment Management's journey in Hongkou began last June with an entry ceremony at the Henry Lester Institute of Technical Education. Over the past six months, the firm has strategically relocated its China operations to the North Bund.
For Manulife, this move is a testament to the company's confidence in the Chinese market and its aspirations to integrate global insights with local expertise, according to Michael Dommermuth, Head of Wealth and Asset Management, Asia.
The North Bund area, home to Manulife Investment Management's new office, stands as a testament to Hongkou District's ambitious urban renewal efforts. In 2023, this area witnessed significant developmental milestones, including the commencement of 43 major projects and the signing of over 200 key projects, totaling an investment of over 80 billion yuan. The number of newly established companies, total registered capital, and the amount of foreign capital utilized were among the top in the central urban districts.
These initiatives have propelled the North Bund to the forefront of urban development, with a sharp increase in newly established companies and foreign capital investment.
Looking ahead, Hongkou District is poised to continue its journey towards becoming the "North Bund of Shanghai, a New Urban Benchmark." This vision includes a diverse range of high-end activities and cultural festivals that not only showcase the district's vibrancy but also attract global attention, the district government said.
Manulife Financial Group, a century-old financial firm with a 160-year history, is headquartered in Toronto, Canada, with businesses spanning over 20 countries and markets across North America, Asia, and Europe.
Manulife Investment Management is the collective name for the global asset management business under Manulife Financial, the world's fifth-largest insurance asset management institution and the top Mandatory Provident Fund manager in Hong Kong.
With over 120 years of global asset investment management experience, the company operates in retail asset management, institutional asset management, and retirement asset management. It provides comprehensive asset management solutions to global investors. As of 2021, the total asset management scale of Manulife Investment Management was US$848 billion.