"We are pleased to welcome the entire group of 450 employees who will help ensure the management transition is seamless for customers, advisors and businesses," said Mr. Gordon. "Our entire organization is focused on knowing and serving our customers for the ultimate benefit of our retirement plan participants," continued Mr. Gordon. "With this transaction, we are able to continue offering a top quality, high touch experience to our clients with no changes in systems, business locations, or service teams." Life Transaction The reinsurance transaction announced in December 2014, in which New York Life agreed to assume a portion of certain John Hancock life insurance policies, is expected to close later this year, subject to receipt of required regulatory approvals and other closing conditions. About John Hancock Financial and Manulife Manulife is a leading Canada -based financial services group with principal operations in Asia, Canada and the United States.