Manulife hunts staff for Europe

Kai Sotorp, hired last year to run the asset-management business at Manulife Financial Corp., is hunting for dozens of investment bankers and other financial professionals for the unit’s European operations. Manulife, Canada’s largest life insurer, wants to boost fee income from managing third-party funds. Sotorp is working to expand in Europe, add absolute-return and liquid-alternative strategies and secure talent to help clients invest in private markets.