CHICAGO, Jan. 21, 2015 /PRNewswire/ -- Incapital has named John D. DesPrez III as its new CEO, bringing on board a veteran of the financial services industry. Mr. DesPrez previously served as CEO of John Hancock Financial Services, and as Chief Operating Officer of Manulife Financial Corp., one of the largest diversified insurance groups in the world. Mr. DesPrez will lead Incapital in its efforts to deliver a growing range of financial products and opportunities by expanding the firm's presence in the dealer, advisor, and institutional communities.
"John's senior management experience is an ideal fit for Incapital's expansion and diversification plans," said Incapital Chairman Tom Ricketts. "We have experienced dramatic growth over the last several years in business lines such as unit investment trusts and annuities, transforming from an industry leader in corporate bonds to a multi-faceted investment firm that partners with major financial institutions to underwrite and distribute a wide range of investment solutions."
Mr. DesPrez oversaw the U.S. operations of Manulife for 10 years, during which time the company purchased John Hancock. Two years later, in addition to the U.S. operations, Mr. DesPrez was also given responsibility for Canada. A year later, he also began overseeing operations in Asia, earning the title of COO with oversight of all the firm's operating businesses around the globe.
As CEO and President of John Hancock Financial Services, Mr. DesPrez oversaw an operation focusing on wealth management business lines such as annuities, mutual funds, group pensions, college savings plans, structured financial products, and managed accounts. Mr. DesPrez, a native of Cleveland, majored in economics at Harvard College and graduated from law school at Georgetown University. He was also on the Board of Governors of the Investment Company Institute in Washington.
"I accepted this opportunity because I was drawn to the momentum behind Incapital's powerful distribution pipeline and its broad range of products that cater to the needs of advisors and their clients," said Mr. DesPrez. "I'm excited to leverage the years of experience I have in the insurance and wealth management industry, and hope to bring a fresh perspective to building these new connections in the advisor community. Advisors who have long enjoyed more efficient access to fixed income products through Incapital's platform will be able to offer additional opportunities to their clients through other rapidly growing asset classes."
For media inquiries, please contact Kris Kagel, JCPR, at 973-850-7312 or kkagel@jcprinc.com.
About Incapital
Incapital LLC was founded in 1999 and today is a leading underwriter and distributor of securities to 800+ broker-dealers, institutions, asset managers, RIAs and banks. The firm represents 300+ issuing entities and has underwritten $350+ billion in securities.
©2015 Incapital. All rights reserved. Securities offered through, and unit investment trusts sponsored by Incapital LLC, Member FINRA/SIPC. Annuities and insurance products offered through Incapital Insurance Services LLC, Member FINRA/SIPC. 200 South Wacker Drive, Chicago, IL 60606. Ph: 312-379-3700
CONTACT:
Kris Kagel
JCPR
973-850-7312
kkagel@jcprinc.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/incapital-hires-former-john-hancock-financial-services-ceo-300023486.html
SOURCE Incapital
