John Hancock Funds, a unit of Manulife Financial in Canada has selected Andrew Arnott as president and chief executive officer, who will succeed Keith Hartstein.

John Hancock president Jim Boyle said Arnott has been with John Hancock Funds for nearly 20 years, continually innovating and growing as a leader and being a driving force behind Fund’s growth and success.

Prior to the new role, Arnott was working as executive vice president of John Hancock Investment Management Services (IMS), which manages all third party and internal asset manager relationships across the John Hancock and Manulife investment platforms in the US and Asia.

At IMS, he was accountable for investment-related new business development at John Hancock Funds, such as acquisitions, fund adoptions and closed-end fund offerings.

John Hancock Funds is a business unit of John Hancock Financial, which administers over $74.5bn in open-end funds, closed-end funds, private accounts, college savings and retirement plans, and related party assets for individual and institutional investors, as at 31 March 2012.