John Hancock Adds Three Distribution Partnerships
July 3, 2000
John Hancock Life Insurance Company of Boston has formed three new mutual fund and annuity distribution partnerships, each expected to bring in more than $25 million a year, according to Tim Waterworth, a vice president at John Hancock's financial institutions group.
Although John Hancock has similar partnerships with more than 200 financial institutions, only 10 percent of the partnerships generate $25 million or more a year, Waterworth said.
The new partnerships are with Fifth Third Bank of Cincinnati, which has 150 sales representatives, SouthTrust Securities, a broker/dealer, of Birmingham, Ala., with 125 representatives, and CUSO Financial Services, a third-party marketer, of San Diego, which has 71 representatives.
All three will sell mutual funds and annuities.