Canada-based Manulife Financial and the Manufacturers Life Insurance Company have appointed Dr Lesley Webster to serve on their boards of directors’ risk committee.

Until 2005, Dr Webster served as executive vice president at JP Morgan Chase's market and fiduciary risk management. Prior to that, she was the global head of US dollar fixed income derivatives at UBS, as well as head of fixed income arbitrage trading at Chase Manhattan Bank. She is also the founder of Daniels Webster Capital Advisors, which the firm said she continues to lead.

In other recent developments, at the end of August it emerged that Manulife is acquiring Wellington West Financial Services, the financial planning firm, from National Bank Financial Group.

The deal will add 39 financial advisors and some $900 million in assets under administration to Manulife's Canadian securities dealer, Manulife Securities, creating a team of around 1,250 independent advisors with $20 billion in assets under administration. Closing is expected to take place in the final quarter of this year and remains subject to regulatory approval.

Manulife Financial has principal operations in Asia, Canada and the US. It also provides asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$514 billion ($504 billion) at June 30. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the US.