Guloien, Named Manulife CEO as Lehman Faltered, Cuts Risk

Donald Guloien said he had “maybe a week” to enjoy his promotion to chief executive officer at Manulife Financial Corp on Sept. 8 last year. Then the financial world collapsed with the bankruptcy of Lehman Brothers Holdings Inc.

“I got all these congratulatory notes; things were looking pretty good,” Guloien said in an interview yesterday. “Then Sept. 15th, life changed for everybody.”

The biggest financial crisis since the Great Depression has already shaped Guloien’s tenure as head of North America’s biggest insurance company. He cut the dividend in half, scaled back on equity-linked insurance products and vows to build up “fortress level” capital to withstand any additional stock declines...

Bloomberg: Guloien, Named Manulife CEO as Lehman Faltered, Cuts Risk