TORONTO (Reuters) - Manulife Financial Corp.
Benson will be replaced by John DesPrez, currently president and CEO of Hancock's financial services wing. DesPrez will take over responsibility for all of Manulife's U.S. operations.
Benson, who joined Hancock in 2002, said that after nearly 40 years in the financial services industry he had decided it was time to leave his position in active company management.
Manulife acquired Boston-based John Hancock in April 2004 for about $13 billion, becoming the second-largest insurer in North America.
Manulife's shares closed down 41 Canadian cents at C$60.73 amid a broad-based slide on the Toronto Stock Exchange.
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