Manulife names Katy Boshart as CEO of banking unit

TORONTO — Manulife Financial Corp. says Katy Boshart will take on the role of CEO at Manulife Bank of Canada starting next week.

Boshart comes to the firm from TD Bank, where she most recently led its customer engagement platforms division.

Manulife says Boshart, who has more than 30 years of banking experience in both Canada and the U.S., will be the first woman to lead Manulife Bank.

Boshart takes on the role at a time when Canada has seen several high-profile departures of women in leadership positions in the financial sector.

Rania Llewellyn was suddenly replaced by Éric Provost as CEO of Laurentian Bank of Canada last October, Linda Seymour's position as chief executive of HSBC Canada was eliminated with the bank's takeover by RBC last month and last Friday RBC said that it had terminated CFO Nadine Ahn.

Manulife Bank of Canada is one of the country's smaller banks with about $29 billion in assets as of the end of January.

This report by The Canadian Press was first published April 11, 2024.

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The Canadian Press