Latest news with #JohnHancock
Boston Globe
5 days ago
- Business
- Boston Globe
Remembering Stephen Brown, the ‘Wizard of Oz' who took John Hancock public
A math major who joined Hancock straight out of college, Brown had no investment experience. The two divisions were worlds apart. Colleagues urged him to stay put. But his wife, Arleen, saw the opportunity. With actuarial and investing experience — a rare combination at the Boston company — he could be CEO one day, she told him. Advertisement Brown took her advice, betting that 'this would give me a real chance to run the company,' as he recalled Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up The gamble paid off. Five years later, he was leading investments. He became president in 1987 and CEO in 1992. Mr. Brown, who retired in 2001 after 43 years at the company, 'He was an educated risk taker, a maverick who chose the right path over the easy, popular, or safe one,' William Brown said. With a mild manner that masked a steely determination, Mr. Brown helped transform Hancock from a staid, policyholder-owned life insurer into a Fortune 200 financial services firm. (I had the opportunity to see his management style in action when I worked in Hancock's investor relations group from 1999 to 2003.) Advertisement Brown rang the opening bell at the New York Stock Exchange on Jan. 20, 2000, John Hancock's first day of trading. Home run legend Hank Aaron (to the right of Brown), was at the NYSE to autograph baseballs. RICHARD DREW The process culminated in Hancock's conversion to a publicly traded company in 2000. Three years later, it agreed to be acquired by Manulife Financial, a Canadian rival. 'Despite all his successes during his nearly half a century at John Hancock — and there were many — his legacy is in the kindness he displayed every day and the culture he built,' Brooks Tingle, Hancock's CEO, said in a statement. When Mr. Brown was promoted to president, the company's No. 2 executive, he and then-CEO Jim Morton began exploring the idea of taking Hancock public. At the time, Massachusetts law didn't allow mutual insurers to sell stock. But with Mr. Brown leading the charge, the company began adopting public company standards for financial reporting and other practices, giving it a head start when the state passed a Morton and Mr. Brown believed going public was essential to compete in a rapidly consolidating financial sector. Access to capital would let Hancock expand its product line, offer stock options to attract talent, and pursue acquisitions. But Wall Street quickly saw the likely endgame: a takeover. That propped up the stock price even as the broader market fell during the dot-com meltdown. When Toronto-based Manulife 'A lot of us got the credit; he was the Wizard of Oz,' said David D'Alessandro, Advertisement Mr. Brown's impact on Hancock was significant. Like most insurers, the company relied on conservative investments like government bonds and real estate to pay dividends and claims. Mr. Brown expanded the portfolio into private equity, venture capital, timber, farmland, and public stocks. Profits increased. He was a mentor to younger executives and helped bring more women into Hancock's management ranks — an initiative that included creating one of the first on-site daycare centers at a major Boston company. Brown in 1996 with William Boylan (left), who was retiring as president, and David D'Alessandro, Boylan's successor. Bill Brett/Globe Staff 'Most people hire people who they are comfortable with — similar humor and often similar backgrounds,' D'Alessandro said. 'Steve preferred the 'Star Wars bar' approach. . . . Hire accomplished and smart people who are so different they look and sound like they are from different planets. Then, let them challenge each other, carefully listen to the widely diverse group, and build a team that considers many views before acting.' Mr. Brown understood the importance of a diverse workforce. There weren't many other Jews working at Hancock when he was hired in 1958. He was the first Jew to run the company, which was founded in 1862. 'This company was a Yankee company,' he said in the podcast interview with Boston University economist Laurence Kotlikoff. 'All my friends said to me, why do you want to join the John Hancock? You'll never get anywhere.' Mr. Brown's tenure included some costly missteps, including his ill-fated move into He sold Freedom Securities — parent of brokerage firm Tucker Anthony — just as banks and insurers were paying top dollar for money managers. Advertisement And in 1997, Hancock agreed to pay at least $350 million to 3.7 million customers who alleged that Hancock agents had deceptively sold them policies. Beyond his career at Hancock, Mr. Brown served as a director of the Federal Reserve Bank of Boston, chairman of the board of Ionics Inc., and a life trustee of the Raymond F. Kravis Center for the Performing Arts. He was also a member of the Vault, a bygone group of powerful executives who advocated for business with Boston and state officials. As the Vault's chairman, he presided over its decision to disband in 1997. 'He was often a voice of wisdom and caution,' said former Boston Fed president Cathy Minehan. Stephen L. Brown was born on July 6, 1937, in Providence, to Eugene and Florence Brown. The family owned a high-end women's gown shop in Brockton. After his parents divorced when he was 13, he and his mother moved to Newton. He attended Newton High School and went to Middlebury College on a full academic scholarship. He interned at Hancock after his junior year. The company hired him the following year. Mr. Brown and Arleen were married for nearly 50 years. They had two children, William and Beverly, and three grandchildren. After her death in 2010, Mr. Brown married Jamie Kotlikoff Stern (Kotlikoff's cousin), with whom he lived for 14 years, splitting their time between Palm Beach, Fla., and Osterville. She has two children, Melissa Stern and Antony Stern, from a previous marriage. After his retirement, Mr. Brown dedicated his time to philanthropy, sitting on the boards of the Alfred P. Sloan Foundation and Palm Beach Dramaworks, and serving as president of the Palm Beach Civic Association. He was an avid golfer, competitive bridge player, and watch collector, Advertisement A private family burial service will be held Thursday. A celebration of Mr. Brown's life will take place at a later date. John Hancock honored by naming its building at 197 Clarendon St. after he retired in 2001. John Hancock Larry Edelman can be reached at
Yahoo
6 days ago
- Business
- Yahoo
Manulife to Release Second Quarter 2025 Results
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, July 23, 2025 /PRNewswire/ - Manulife Financial Corporation will release its second quarter 2025 financial results after markets close on Wednesday, August 6, 2025, which will be made available at A live webcast and conference call are scheduled for Thursday, August 7, 2025, at 8:00 a.m. (ET) where members of Manulife's executive leadership team will discuss the results, followed by a question and answer period with analysts. To access the conference call, dial 1-800-806-5484 or 1-416-340-2217 (Passcode: 8528599#). Please call in 15 minutes prior to the scheduled start time. The archived webcast will be available at following the call. A replay of the call will also be available until June 7, 2025, by dialing 1-800-408-3053 or 1-905-694-9451 (Passcode: 1098664#). About Manulife Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit Media ContactFiona McLeanManulife437-441-7491fiona_mclean@ Investor RelationsDerek TheobaldsManulife(416)-254-1774derek_theobalds@ View original content to download multimedia: SOURCE Manulife Financial Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
22-07-2025
- Business
- USA Today
Founding Father John Hancock's home is on the real estate market in Boston. Take a look
Members of the public have the chance to buy the house of the man who first signed the Declaration of Independence in 1776. The 5,748-square-foot home of first Massachusetts Governor and Second Continental Congress President John Hancock is now on the market, according to Landvest real estate. The building, which is on the National Register of Historic Places, is "the last extant property associated with the founding father in Boston." The price of the building is available upon request. "The building consists of (three) stories, with many of the Later Georgian interior details still intact, and remains the only vernacular structure dating to the mid 1700s to survive in central Boston," according to the Landvest website. The building is currently in use as a law office. "A fixture on Boston's iconic Freedom Trail, the property is minutes from City Hall, Faneuil Hall, North Station, the Haymarket and Government Center T stops, and is a short walk across the Greenway to the North End, the Waterfront, and the Boston Harbor commuter ferry services," the list said. How can people go about buying the home? Unlike most real estate, the price for this home is only available on request. Interested parties need to go to where they can express interest in the home, and arrange a tour. The real estate agent representing the home is Dave Killen, who can be reached at (508) 451-0020. One report on the sale of the home states that Boston assessed the property at $1.6 million. What to know about John Hancock Aside from being the President of the Second Continental Congress, the first Massachusetts governor, and the first to sign the Declaration of Independence, "Hancock used his wealth and influence to aid the movement for American independence," according to the History Channel. He started his career as a Boston selectman in 1765, and then moved into the Massachusetts colonial legislature. This was right around the time that British Parliament started levying tax laws on the colonies that spurred the American Revolution, which Hancock found himself at the center of. "Hancock came into direct conflict with the British in 1768, when one of his merchant ships, the Liberty, was seized in Boston Harbor by British customs officials who claimed Hancock had illegally unloaded cargo without paying the required taxes," the History Channel stated. "Hancock was a popular figure in Boston, and the seizure of his ship led to angry protests by local residents. He's perhaps most famous for his bold signature on the Declaration of Independence. Legend says "Hancock boldly inscribed his name so the English king would not need glasses to read it," the History Channel said. Lesser known, he was a candidate against George Washington in the first U.S. presidential election. Considering Washington was the heavy favorite, Hancock only received four votes. Hancock died at age 56 on Oct. 8, 1793 and was buried at the Granary Burying Ground in Boston.
Business Wire
22-07-2025
- Business
- Business Wire
David D'Alessandro Joins IDC as Chairman of the Board
BOSTON--(BUSINESS WIRE)--International Data Corporation (IDC), the trusted technology intelligence leader, today announced the appointment of David D'Alessandro as Chairman of its Board of Directors. A seasoned executive with a career spanning financial services, sports, and entertainment, D'Alessandro brings a legacy of leadership grounded in brand transformation, operational rigor, and ethical governance. IDC, the trusted technology intelligence leader, today announced the appointment of David D'Alessandro as Chairman of its Board of Directors. Share He succeeds Steve Singh, who will continue to serve as a director on the Board. Singh, the former Chairman and CEO of Concur and a former Member of the Executive Board of SAP, recently stepped into the role of interim CEO at Spotnana. 'David is a strategist, a brand visionary, and a respected leader who understands the power of data to drive meaningful outcomes,' said Genevieve Juillard, CEO of IDC. 'His experience leading through complex market transitions and advising organizations through transformation will be invaluable as IDC continues its path of innovation and growth." D'Alessandro spent two decades at John Hancock, where he rose from marketing executive to Chairman and CEO. He led the company through a high-profile IPO and its subsequent merger with Manulife Financial. Under his leadership, John Hancock became a globally recognized sponsor of events like the Boston Marathon, the New York City Marathon, and the Olympic Games. He later served as Chairman and CEO of SeaWorld Parks & Entertainment and held a seat on Major League Baseball's Special Task Force on the 21st Century. D'Alessandro currently serves as Chairman of Encore Event Technologies. D'Alessandro is also the author of three best-selling books on leadership and ethics in business: Brand Warfare, Career Warfare, and Executive Warfare. He owns Toscano restaurants in Boston and Cambridge and remains a strong voice on corporate responsibility and performance. 'IDC is entering an exciting new chapter,' said D'Alessandro. 'The strategic divestment of Foundry — completed in March 2025 — frees up capital and focus for IDC's core strength: delivering sharp, data-driven technology intelligence. This transition positions us to double down on innovation and AI-powered insights that empower businesses to navigate complex market shifts with confidence.' D'Alessandro joins a board committed to supporting IDC's mission to deliver trusted tech intelligence that illuminates the path forward for technology buyers and suppliers worldwide. About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
New York Post
17-07-2025
- Business
- New York Post
John Hancock's former home can be yours — said to be the sole relic from the American Revolution still standing in downtown Boston
You can use your John Hancock to buy John Hancock's former house. A highly pedigreed property in the heart of central Boston is on sale for the first time in half a century, the Boston Globe reported. The pre-Revolutionary War building has a lot to brag about — it was built by that founding father, used to stash silver for the Continental Army and housed the country's oldest continually run shoe store. Moreover, the Ebenezer Hancock House is thought to be the sole surviving house from the Revolutionary period still standing in downtown Boston, the Globe reported. Advertisement It's certainly the only one you can buy. 8 The Ebenezer Hancock House. Courtesy of Flylisted | LandVest 8 John Hancock, who signed the Declaration of Independence and served as the first governor of Massachusetts. Getty Images Advertisement The brick edifice was built in colonial times around 1767 by John Hancock, the founding father known for his outsized signature on the Declaration of Independence. Hancock's lesser-known brother, Ebenezer Hancock, lived and worked in the home as a deputy paymaster for the Continental Army. The paymasters were responsible for funding American troops, and Ebenezer's home served as their wartime headquarters. Two million silver crowns loaned by the King of France in 1778 were stored in the house, according to the Boston Landmarks Commission, before they were distributed to soldiers. The 5,748-square-foot property is the only remaining Boston building associated with John Hancock. Hancock sold the property to a local merchant in 1785, according to city records, and his personal home was demolished in the 1800s. 8 A law firm has owned and preserved the building for half a century. Courtesy of Flylisted | LandVest Advertisement 8 The house contains some of the best preserved historic interiors in Boston. Courtesy of Flylisted | LandVest 8 A large hearth features an antique mantel and a beehive oven. Courtesy of Flylisted | LandVest LandVest listing agent Dave Killen told The Post that the 50-year stewardship of the property's current owners, the law firm of Swartz & Swartz, has prevented modernization or conversion. 'There's nothing like the Ebenezer Hancock House that I've seen in terms of the level of authentic carpentry that goes all the way back to its original construction,' said Killen. Advertisement The property spans three floors. Raised wood panel work and trim on the second floor remain original details from Hancock's construction. Other historic details include exposed beams, wide-plank floors and an oversize hearth with a beehive oven. Killen, who specializes in unique and historic commercial properties, called the property 'the best surviving example of later Georgian interior architecture in the city.' 8 Exposed wooden beams on an upper floor. Courtesy of Flylisted | LandVest 8 Exposed beams and wide-plank floors span the property. Courtesy of Flylisted | LandVest 8 A former tenant of the historic house pictured in 1973. Boston Globe via Getty Images Killen declined to disclose why Swartz & Swartz is selling the property or discuss prices, but the city of Boston most recently assessed the property at $1.65 million. The Ebenezer Hancock House is protected as a historic landmark, but its next owner doesn't need to turn it into a monument. Flexible mixed-use zoning means its buyer could feasibly live on the premises — with city approval, of course. Shops, boarding houses, taverns and private clubs have all occupied the Ebenezer Hancock House over time. 'We're engaged in a very deliberate search to find the right fit,' Killen said.
