Incapital has named John DesPrez – the former chief executive of John Hancock Financial Services and COO of Manulife Financial – as its new chief executive.

Incapital has named John DesPrez – the former chief executive of John Hancock Financial Services and COO of Manulife Financial – as its new chief executive.

The firm confirmed that DesPrez succeeds Phil Johnson, president of Incapital, who served as acting CEO.

DesPrez will lead Incapital in its efforts to provide a wider range of financial products by expanding the firm’s presence in the dealer, advisor and institutional communities, it said.

As CEO and president of John Hancock Financial Services, DesPrez oversaw an operation focusing on wealth management business lines such as annuities, mutual funds, group pensions, college savings plans, structured financial products and managed accounts.

He also oversaw the US operations of Manulife for ten years, during which time the company purchased John Hancock. Two years later, in addition to the US operations, he was also given responsibility for Canada. A year later, he also began overseeing operations in Asia, earning the title of COO with oversight of all the firm’s operating businesses globally.

Incapital is an underwriter and distributor of securities to 800+ broker-dealers, institutions, asset managers, RIAs and banks.