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Doug Wood, Chairman of Manulife Wood Logan inducted into NAVA Hall of Fame Stamford – Doug Wood, Chairman of Manulife Wood Logan has been inducted into the National Association for Variable Annuities Hall of Fame and received the John D. Marsh Memorial Award for his influence and contribution in the annuity industry. “Doug needs to be recognized by the industry for all of his contributions,” stated Mark J. Mackey, President and CEO of NAVA. “As co-founder of Wood Logan and as a long standing member of the financial services industry, he has made many valuable contributions to NAVA and the annuity business.” Mr. Wood has nearly 40 years of experience in the marketing and sales of securities, with emphasis on mutual funds and variable annuities. Before forming Wood Logan Associates, Inc. in 1986, Mr. Wood had been Chairman and Chief Executive Officer of Integrated Capital Services. Under his stewardship, Integrated Capital distributed more than $1 billion in variable insurance products and mutual funds. It was during his tenure that he introduced the first no-load real estate variable annuity, Harvest. One of the unique features was the ability to create daily unit values with commercial mortgages as the underlying investment. He later introduced one of the early traditional variable annuities called ICAP. “For many years Doug has been instrumental in setting new standards in the financial services industry,” said Robert Cassato, President of Manulife Wood Logan. “It comes as no surprise that NAVA is recognizing Doug’s efforts for shaping the structure and innovative ideas in both the marketing and wholesaling of annuities.” Before joining Integrated, Mr. Wood had been the National Sales Manager at MFS, where he was responsible for the first sales presentation of the first no-load variable annuity, Spectrum. Mr. Wood entered the securities business as a retail broker with Goodbody & Company in 1963. Before entering the securities business, Mr. Wood taught speech, English and drama both in the United States and Germany. Mr. Wood received a BA degree from California State University, Long Beach, in 1959, and did graduate work at Northwestern University. Mr. Wood was one of four people honored on October 7, bringing the total number of inductees to 20 since the first Hall of Fame occurred in October 1996. The award is named for John D. Marsh, who is considered to be the “father” of the commercial variable annuity in this country. About NAVA NAVA is a non-profit trade association located in suburban Washington D.C. NAVA provides a variety of services to the industry including educational forums, research, and conferences aimed at furthering the development of fixed and variable annuities, income annuities and variable life insurance. NAVA also maintains and supports an educational website for consumers at www.RetireOnYourTerms.com. About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality annuity, life insurance, pension, tax-deferred college savings, and separately managed account products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles and asset managers. With its extensive product lines, competitive underwriting, excellent ratings and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients. Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were US$87.8 billion (Cdn$139.2 billion) as at September 30, 2002. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. -30- Media Contact: Wendy W. Smith U.S. Communications 617-854-4348 wendy_smith@manulife.com |
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