Manulife Asset Management taps new portfolio manager from subadviser

Randy LeClair was named managing director and portfolio manager at Manulife Asset Management, confirmed spokeswoman Beth McGoldrick.

The position is new. He started Jan. 30.

Mr. LeClair is also portfolio manager for the Manulife Preferred Income Fund, which he has led since 2009 when he was at the fund's subadviser, Portland Investment Counsel.

Mr. LeClair will continue to be portfolio manager of the fund, but now in an internal manner, and will report to Hosen Marjaee, vice president and senior portfolio manager at Manulife Asset Management.

Mr. LeClair worked at Portland Investment since 1998 and was named chief investment officer in 2010. His duties as CIO have been assumed by Michael Lee-Chin, executive chairman and CEO, said Christopher Wain-Lowe, executive vice president and portfolio manager.

Portland still subadvises a total of about $1.5 billion for Manulife funds.